A foundry is a workshop for manufacturing metal castings. India has emerged as the third largest castings manufacturer in the world after China and the US.This report considers the calendar year 2016 to be the base year and provides data for the trailing 12 months. The values presented in the report are the actual values for 2016 and estimated values for the period 2017-2021.In this report, Technavio covers the current scenario and growth prospects of the foundry market in India for the period 2017-2021. It also presents the major vendors that are involved in the foundry market in India. In addition, it discusses the major drivers that influence the market's growth, outlines the major challenges faced by vendors and the market at large, and examines key trends that are emerging in themarket.

5-axis Computerized Numerical Control (CNC) machining had already made a significant difference in the metal processing industry by reducing the cycle time,increasing efficiency, and decreasing the wastage of material. With an everincreasing demand from end-user industries, the 6-axis CNC machine has been introduced. This innovation is expected to redefine machining operations. Reduced CAPEX spending by manufacturers has compelled industries to scout for low-cost options. This trend has contributed to the easy reach of refurbished machines for consumers. In addition, the rising demand for these machines is attributed to their cost differential of 50%-75%. This, coupled with the highly fragmented industry scenario, has provided a threat to established players with a possibility of subdued sales. Low-cost manufacturing opportunities in APAC have compelled manufacturers across all industries to move their manufacturing bases to this region. Rising automotive production in Thailand and initiatives such as Make in India have made this region the focal point of global manufacturing. Therefore, Technavio expects this region to lead in the manufacturing market, and in turn, prove to be a major market for sheet metal equipment.

The aircraft HMV market is one of the key segments of the MRO market. It includes the MRO of the airframe, engines, and components, where thorough visual checks and NDT tests are conducted to detect damages or corrosions caused inside the skin of the aircraft, engine valves, and all the special parts where an extensive check is required.

High-performance alloys are a class of alloys that exhibit creep resistance at high temperatures and excellent mechanical strength. These alloys mainly consist copper, lead, titanium, rhenium, chromium cobalt, and nickel as base alloys. They exhibit properties such as resistance to corrosion, resistant to oxidation and sulfidation, heat resistance, and other related properties.

工业车辆是工程机械下的一个细分板块，是企业物料转运环节中不可或缺的机械工具，广阔的应用领域下蕴藏着巨大的发展潜力。受到下游行业发展、国内环保政策以及技术升级等因素推动，我国工业车辆行业的产品结构开始发生转变，未来销量将持续增长。随着叉车后市场、租赁等新业务兴起，行业有望迎来新的利润增长点。

2016 年费用控制能力和营运能力基本稳定。2016 年整个机械行业管理费用率为10.02%，同比增长0.28pct；销售费用率为4.84%。

市场经历1 季度周期股超预期表现，以及4 月份高估值个股调整后，业绩超预期的成长股投资价值凸显，以美亚光电为例处于业绩拐点的龙头价值股表现突出。我们继续推荐优质成长股楚天科技、诺力股份、美亚光电、中航光电、精测电子、先导智能，关注龙马环卫、伊之密、昊志机电、弘亚数控。

304 家机械行业上市公司在2016 年共实现营业收入8,708.15 亿元，同比增长11.70%，营业利润295.18 亿元，同比下滑12.78%，归属母公司所有者净利润为242.46亿元。

天然气产业实现跨越式发展，天然气装备高景气度可期。西北地区积极推动油气管网公平开放，促进天然气产业向前发展。

我们梳理了LCD 的发展史，发现LCD 取代CRT 关键在于应用的打开和成本的下降，市场一旦打开产线的投资就进入密集期。我们认为OLED 将复制这一规律，目前应用场景和成本条件已经具备，产业处于爆发前夕。

航空产业是知识、技术和资金密集型工业，是现代科技成果的综合，反映了一个国家科技和工业的综合发展水平。

重点选择其中预期差大+兑现速度快的板块和标的。当前核心推荐组合：恒泰艾普、烟台冰轮、伊之密、杰瑞股份、金卡智能、柳工。

2016 年国内电梯新梯销售继续分化，电梯服务是战略资源。2017 年Q1 上海机电扣非后净利润增8.5%，各项数据优。

16年机械板块利润降幅收窄，营收有所增长。截止16年12月31日，按照申万板块分类，机械板块上市公司共实现营业收入9407.9亿元，同比提升了14.11%；实现归属母公司净利润320.7亿元，同比下滑5.02%。从数据来看行业整体发展呈现弱复苏态势，具体表现为营收水平较快增长，净利润下滑幅度大幅收窄。