第五代移动通信技术（5G）与前四代通信技术有本质的区别，前四代都是聚焦话音和/或数据业务，而5G不仅可以提供更高数据速率和更高质量语音业务，而且，可以支持传统的数据和语音之外的大连接和低时延等更多场景，因此，5G是之前通信技术的总和和创新。5G是ICT融合的产物，是传统移动通信与NFV、SDN、网络切片、云计算、大数据以及未来网络等新技术融合的产物，在业界共同努力下，5G标准前期研究取得可喜的进展。我国5G的研究进展及国际贡献主要体现在：5G愿景与需求、5G将连接更多的人和物、5G性能和效率、5G空口技术、5G网络架构等多个方面，在此基础上可进一步推动5G国际标准制定。

北京市从2015年开始着力于调整和优化产业结构，出台了一系列政策措施，根据推进供给侧结构性改革、加快经济转型升级的要求，对部分资源消耗大、生产成本高的产业进行了“腾换”，同时引入相对优势显著、发展潜力巨大的产业，逐步形成高质量、高创新、高潜力的产业集群。本报告首先回顾了近年来北京市产业布局和结构调整的进程，其次研究了产业结构调整对于北京经济的影响以及北京产业结构的变化轨迹，最后以十大“高精尖”产业为切入点，详细阐述了北京产业结构调整对产业安全和产业升级的影响。总体来看，北京的“腾笼换鸟”政策取得了较好成效，以十大“高精尖”产业为代表的价值链高阶产业在产业调整后均迎来了较快的发展，并且产业安全压力骤减。

The growth in security concerns has fueled the market for door-related hardware. Urbanization too has increased construction output with high demand for doors and their related accessories, access control systems, and components. Security solutions for doors have also grown and witnessed developments to meet the unique and diversified needs of various commercial facilities with huge foot traffic. Going forward, the global trend of enhancing security features will drive the research and development of advanced solutions with improvements in existing security systems. The core objective of the developments will rely on safety, security, reliability, and convenience. The door closer and exit device market experienced significant growth in North America and Europe in 2020. However, higher growth prospects are expected from APAC, Latin America, and the Middle East & Africa, which are expected to grow 1.3 times in terms of revenue during the forecast period.

Mordor Intelligence (MI) advocates an appropriate mix of secondary and primary research to meet client objectives. MI translates market insights (market dynamics, competition, varying consumer demands, and regulations) into actionable business insights. The following phases are practiced at Mordor for efficient delivery of various syndicated and consulting assignments:

Industry Analysis is a market assessment tool designed to examine the political, economic and market conditions that affect a certain industry at a certain time. This also assists organizations to analyze the important aspects of the industry and provides a better understanding of the company’s position in the market and helps in planning key business strategies accordingly. The following figure illustrates the key segments involved in analyzing the global small arms market

Note sorters are used as sorting units that facilitate the management of notes for cash-intensive businesses. The note sorter machine helps banks reduce the human efforts as well as reduces different types of error in sorting and counting of cash. In addition, it provides different benefits to end users that include reduction in operational expenses, less risk of internal theft occurring during the sorting and counting processes, faster processing of bank procedures, and decline in financial losses.

在投资策略上，建议把握供需拐点和成长起点两大投资主线：在供需拐点方面：重点推荐符合“实战需求旺、储备型号多、量产节点至”三大标准的整机及核心配套公司，以及在实战化练兵背景下需求集中释放的相关公司。在成长起点方面：重点推荐符合“行业空间大、国产化率低、转化效率高”三大标准的相关细分领域的龙头公司，包括上游的关键原材料、核心元器件，下游的航空发动机、电磁技术等领域。

策略：军工乘势起，布局正当时。短期看，首先，军工板块前期经历大幅回撤，估值和业绩增速剪刀差有所收敛；其次，建党百年将至，行业催化剂渐多，市场风险偏好将得到提振，投资窗口有望再度打开。中期看，行业高景气度有望持续高位运行，订单+产能扩张驱动行业快速增长可期。长期看，建军百年奋斗目标近在迟尺，‚百年变局‛势必将加速我军的现代化进程，行业发展有望迎黄金时代。我们建议优选赛道，自下而上精选个股，推荐中航沈飞（600760.SH）、紫光国微（002049.SZ）、七一二（603712.SH）、北摩高科（002985.SZ）、高德红外（002414.SZ）、航天发展（000547.SZ）和中航电测（300114.SZ）等。