In 2018, airlines in the United States stretched their unbroken string of operating profits to eight years, but they’re now facing tough choices as costs increase and margins narrow. While persistently strong demand for air travel is pushing many carriers to add capacity, the additional routes and service are making pricing more competitive and putting pressure on yields. Airline operations also face mounting obstacles to sticking to their published schedules. For carriers, it’s coming down to a battle of growing capacity and revenue versus maintaining operational resilience. With predictions of a global economic slowdown in 2019 and 2020, remaining profitable may become more of a test. For the year ending in September 2018, the average carrier margin declined to 8.5 percent as higher operating costs began to offset rising revenue. That’s down 2.1 percentage points from the previous 12 months, and it marks the third straight year that US airline margins have contracted.

The preventive vaccines market has attained maturity in some of the disease segments, like polio, while for some diseases, it is yet to establish itself in the market. In spite of these differences in each segment, the market is continuously growing, due to the exponential growth that is varying, with respect to the demand for vaccination for separate diseases over time.

The commercial aircraft avionics market is primarily dependent on the demand for new aircraft and upgrades of avionics for the existing aircraft. The aviation industry is growing, and the procurement of new aircraft is being done on a large scale in all the regions of the world. This is generating a huge demand for the entire supply chain of the aircraft, which includes the avionic components.

战机更新换代主要依赖航空发动机性能升级，因此航发技术水平高低很大程度上决定一国空中力量发展高度。 航空发动机行业壁垒较高，全球仅美/俄/英/法/中5国可独立研制；但回报高，单位重量附加值是飞机的1.8倍、计算机的4.7倍。 航空发动机经历了“活塞-涡喷-涡扇-高涵道比-推重比10以上低涵道比”四次变革，高性能涡扇仍是当前研发投入核心。

1、截止到2019 年第一季度末，公募基金军工持仓总市值为288.02 亿元，较上季度上升35.0%，持股总市值17912.14 亿元，军工股持仓占比为1.61%，相较上季度1.54%的持仓占比上升了0.07 个百分点。分地区看，广深地区公募基金军工持仓最多，总市值达142.62 亿元，在三地公募基金军工持股总市值中占比49.52%；北京地区公募基金军工持股市值较上季度上升比例较大。