In this report, Technavio covers the present scenario (with the base year being 2016) and the growth prospects of the global unmanned aerial vehicle (UAV) payload and subsystems market for 2017-2021. To calculate the market size, the report considers the revenue generated in the overall defense market from the procurement of sensors and cameras, weaponry, radars and communication systems, and other types of UAV payload and subsystems (ground control stations [GCS] and onboard computers).However, both funded and unfunded R&D investments in the development of UAV prototypes and payload components were not considered when deriving the market size for the base and projected years.

Aircraft batteries are used to start engines while initiating taxiing or the APU. The batteries are also used to power the airplane interiors and services (such as broadband and air conditioning). The major battery chemistries that are generally used as modern aircraft batteries are lithium-based (Li-ion and lithium iron phosphate), nickel-based (Ni-Cd or nickel metal hydride), and lead-acid. Lead-acid batteries are usually employed in light and general aviation aircraft. The nickel-based batteries dominate larger aircraft and helicopter applications, which are being replaced by the lithium-based batteries since the past decade.

进入 5 月份以来，我国周边国际局势发生了新变化。虽然有美军轰炸机飞越南海、反导试验取得成功等事件影响，但传统上与中国关系较为紧张的国家和地区，包括日本、印度、韩国、东盟诸国等，正通过各种渠道缓和双方关系，合作协商的态势已然形成。我们认为，我国周边国际局势正进入缓和期，美军进行反导试验、轰炸机飞跃南海等个案不会改变整体外部环境趋向缓和的大趋势。 

回顾 2016 年军工行业业绩，军工行业上市公司业绩保持整体稳定状态，2017 年一季度部分上市公司业绩有所改善，但军工年底交货特点，一季度业绩释放空间有限。今年军工行业处在混改等改革和军机批产等中长期拐点利好兑现期，行业正全面向好。二季度在市场风险偏好变化等情况下，市场忽视军工行业基本面向好的变化，军工板块上市公司股价大幅回撤，板块整体被错杀，投资价值被低估。 

行业维持高景气度，预计未来3年行业净利润年均增速将维持20%左右；军工指数大幅回调，回到2014年11月的水平，即牛市启动初期的水平；我们研判军工板块：2017年下半年将以震荡态势为主。

韩新任总统文在寅本周表示：前任政府部署“萨德”的决定不符合民主程序，是一个错误的决定。 “萨德”入韩为朝鲜半岛局势带来“不必要的紧张”，韩国应暂停“萨德”部署，新政府应对“萨德”入韩问题重新进行审视，应学会对华盛顿政府说“不”。