事件：3 月20 日，民航局网站刊登报道《民航局迅速传达学习2019 年两会精神》提及：“在减税降费方面，要加快协调推进降低航空公司的民航发展基金征收标准，对涉及企业收费标准偏高的、不利于减负增效的，都要降下来，特别是在空管收费、通航收费、航油销售等领域要开展价格收费专项检查。”我们认为民航系统推进为企业减税降费，实实在在减负正在进行时，也是积极响应国务院推动减税降费为企业减轻负担。同时加快协调推进民航发展基金征收标准，也是我们此前报告中认为2019 年民航业潜在利好之一，另一潜在利好我们认为是国内航线辅助收入或实现松绑。

在改革深化、国防体系改革加快的大背景下，军工国企改革的步伐有望加快。我们梳理了近年来军工体系改革的相关政策，认为军工企业改革有三大方向：1、行业内进行企业战略性重组；2、自上而下的深入改革，提升经营效率；3、军工资产证券化。

1、本周上证综指上涨1.75%，收于3021.75 点。同期上证高端装备制造60 指数上涨4.62%，收于6961.42，跑赢大盘2.87 个百分点。从行业板块来看，电力设备、房地产、食品饮料等板块涨幅较大，计算机、通信、农林牧渔等板块跌幅居前。

我国军用舰船近年来发展迅速。目前，全球造船市场已形成中、日韩三国主导的市场格局，其中，我国是全球造船第一大国。

The aviation industry and the businesses that support it are experiencing another year of unparalleled growth, thanks to an expansion in the global population able to afford air travel. Rising incomes and consumer spending are pushing passenger travel to record levels and fueling the largest year-over-year increase of the in-service fleet since 2008. Looking ahead a decade, air travel demand is anticipated to be equally robust, with an additional 200 million people expected to enter the middle class across the planet. Growth in revenue passenger kilometers (RPK) will regularly exceed the annual expansion of gross domestic product (GDP) in most economies—particularly in high-growth areas like China and India. Even amid global trade tensions, the projections for commercial air travel remain optimistic across all regions of the world.

微波组件用于实现微波信号的频率、功率、相位等各种变换，广泛用于雷达、通信、电子对抗等领域。低成本、小型化是微波组件重要发展趋势，目前主要技术途径包括混合微波集成电路（HMIC）和单片微波集成电路（MMIC）两种，HMIC向LTCC 高密度封装方向发展，MMIC 向多功能MMIC、SIP 等方向发展。

2019 年第 7 周，国防军工（中信）指数收益为+4.86%，中证军工指数收益为+4.52%，沪深 300 收益为+2.81%。年初至今，中证军工指数收益为+10.35%，考虑到目前板块和个股估值处于历史底部区间，看好军工板块投资机会。 

针对我国航空集装载具在管理中存在的不足，本文提出航空集装载具共用概念，进一步研究其运作的商业模式，最后给出了支撑其商业模式的信息平台方案。从业务管理方案的有效落实为出发点，进行了业务价值链分析与业务流程设计，形成了共用商业模式。最终用统一建模语言UML对信息平台进行原型设计，形成了航空集装载具共用的方案，力求通过物流信息化的手段以解决现有问题。本文对模式的探析对今后航空集装载具共用模式的进一步细化和信息平台相关功能的开发提供指导和借鉴。

Belgrade is working to develop the SAF into a small, highly-capable force, fit to participate in UN/EU peacekeeping missions, and able to defend Serbia against its security threats. As part of this transformation, much of the SAF's ageing equipment will need to be replaced, and demand for military products - particularly within the aerospace segment - is therefore significant. Serbia has a sizable defence industry, capable of producing armoured vehicles, artillery, missile systems, patrol boats and light attack aircraft, in addition to small arms and ammunition. Consequently, we expect the defence ministry to acquire much of the equipment needed for the SAF - particularly the army - from local manufacturers over the coming decade. That said, we do expect Belgrade to make arrangements for technology transfer in military import deals, which could benefit domestic defence companies over the medium-to-long term. The newly agreed Individual Partnership Action plan with NATO in January 2019 will play an important part in this – particularly with regard to the knowledge transfer of cybersecurity-related systems and practices.