Rolling stocks are wheeled vehicles that move on railway tracks. Rolling stocks include passenger trains, locomotives, and freight wagons. These vehicles can be non-selfpropelled or self-propelled. Rolling stocks are capital-intensive and require huge investment and time to manufacture. Alstom, Bombardier Transportation, CRRC Corporation, GE Transportation, Mitsubishi Electric, and Siemens are the major rolling stock manufacturers in the market.

A significant part of the demand in the global welding safety market will arise from the construction and manufacturing sectors, which jointly accounted for nearly 50% of the overall market in 2015.The demand for welding will increase over the forecast period, especially from the manufacturing industries in developing countries. As welding is extensively used in the manufacturing industries, the rising demand for welding will, in turn, increase the demand for welding safety.Welding is one of the major processes in the construction industry. The global construction output is expected to grow by 85% to reach $15 trillion by the end of 2030. The global construction industry will grow at an annual rate of 4% until 2030,which is higher than the projected global GDP growth rate of 3% per annum.The implementation of robotic welding technology and automated welding technology will significantly limit the market growth as the demand for manual welding will decline. Automated welding solutions offered by companies like Lincoln Electric and Gullco International help end-users execute welding with the highest efficiency. Increased output, improved quality, and reduced overall cost propel endusers to adopt robotic welding. This will decrease the demand for welders, in turn,decreasing the demand for welding safety equipment in the market.

机械行业整体观点：我们看好两大投资主线：成长先锋（物流自动化、高空作 业平台、立体车库、锂电设备）、周期变局（油服、煤机、轨交设备、工程机械）。重点推荐：浙江鼎力、诺力股份、田中精机、安徽合力、三一重工、五洋科技、 永创智能、赢合科技、龙马环卫、山东威达。长期看好：鼎汉技术、威海广泰、 远大智能、中联重科、上海机电、科达洁能、四川九洲、新研股份、华昌达等。机器人及自动化：本周，工信部副部长表示当前机器人产业技术水平逐渐提升， 服务领域进一步拓展，龙头企业日益成长壮大，国际合作进一步深入推进。中 国制造 2025 全面转入实施阶段，拥有技术资金优势企业有望脱颖而出，重点 推荐诺力股份、永创智能、埃斯顿、赢合科技、山东威达、慈星股份、机器人。

In 2015, the Americas led the global unmanned aerial vehicle (UAV) landing gear market with a share of 52.96% and is expected to dominate the market till 2020.The major driver for such dominance will be the high investments in the development and procurement of UAVs in the defense as well as the commercial and civil sectors.APAC will record the highest growth rate of 18.79% during the forecast period.Increasing insurgency and territorial disputes have resulted in high investments in the indigenous development of UAVs and associated components in Asian countries including China, Vietnam, South Korea, India, and Japan. Also, the ability of several Chinese companies such as DJI to supply low-cost commercial and hobbyist UAVs will raise the demand for associated components in the region. Countries such as Russia, Iran, Iraq, and the UAE are expected to enhance their military UAV inventory during the forecast period. This will have substantial positive impact on the landing gear market in EMEA.The defense sector is expected to invest significantly in the development of alternative energy-powered HALE UAVs, which will nurture the component suppliers to offer advanced landing gear systems that can withstand superior payload of surveillance equipment.

In 2015, the Americas had a market share of 54.96%, and it is likely to continue its dominance till 2020 as well, due to their increasing investments in unmanned aerial vehicles (UAVs) and their increased deployments for intelligence gathering.In the same year, 26 European countries had active UAVs and robotic programs. The growing extremist threats and territorial disputes have led to rising investments in UAVs by China, Japan, and India, propelling the market in APAC to grow at a CAGR of 15.95%.The conflicts in Iraq (2003-2011) and Afghanistan (2001-2014) have driven the development and deployment of military UAVs by the US armed forces.Demand for UAVs is rapidly increasing from developing nations, such as India,China, and Brazil for command, control, communications, computers, intelligence,surveillance and reconnaissance (C4ISR) operations.

The invention of submarines has revolutionized the naval warfare. Submarine batteries are vital for the safety and operational effectiveness of the watercraft's power system. Countries, such as the US, Russia, China, Japan, and India, are investing heavily in the procurement and development of submarines to strengthen the respective countries' sea border security and to gather intelligence. The lead-acid battery (LAB) technology has a history of more than 100 years.However, latest R&D activities on lithium-ion (Li-ion) batteries are undertaken to make them safer and cost effective when adopted as a power source in submarines.In this report, Technavio covers the present scenario and growth prospects of the global submarine battery market 2016-2020.

Saturation in the volume of sales of premium two-wheelers in matured economies like the US, Europe, and Japan has forced OEMs to shift their focus to emerging countries like India and China, which are mostly predominated by commuter segment bikes. OEMs are currently following the trend of equipping low displacement motorcycles with additional features like slipper clutches for targeting the market in emerging countries. Bikes with additional features are targeted at buyers who are looking to upgrade from the commuter segment and to step into the premium segment. The growing sales of electric two-wheelers and automatic scooters is a major challenge to market growth. Penetration of the slipper clutch market is highest in Europe, especially in high displacement motorcycles (>1000CC), owing to the strong base of OEMs in Europe
with brands like BMW, Aprilia, Ducati, Benelli, and Moto Guzzi.

机械行业整体观点：我们看好两大投资主线：成长先锋（物流自动化、高空作业平台、立体车库、锂电设备）、周期变局（油服、煤机、轨交设备、工程机械）。 

The average number of satellites launched per year during 2011-2015 increased by 36%, as compared with 2010.By October 2014, 16 Chinese spacecraft equipped with intelligence, surveillance,and reconnaissance (ISR) and satellite communication (SATCOM) capabilities

were launched.In the same year, the US Air Force’s Space-Based Infrared System (SBIRS) missile warning satellite constellation received a funding of $873 million for development.During the same period, GPS III, the US Air Force’s next-generation positioning,navigation, and timing satellite system, which is still under development, received a funding of $652 million.After the first launch in 2009, the second Wideband Global (WGS) SATCOM system launched a single geostationary extremely high frequency (EHF)/Ka-band satellite, Athena-Fidus, in 2013.

Increasing demand for machine-to-machine (M2M) data communication and growing adoption of satellite communication for disaster management are contributing to the growth of the M2M services market.The government sector is the key market segment responsible for increased satellite M2M services market revenue, followed by the transportation sector.The presence of multiple established M2M service providers worldwide is attributed to the rapid growth of the M2M services market.Many new satellites will be launched in the coming years enhancing satellite M2M connections and services market revenue.The presence of M2M products, solutions, and services in varied application areas,such as smart homes, connected cars, connected supply chain management (SCM) in manufacturing, and connected transport and logistics is fueling the services market revenue M2M technology that provides efficient remote monitoring and controlling is one of

the key application categories that is primarily responsible for increased market growth.In this report, Technavio covers the present scenario and growth prospects of the global satellite M2M connections and services market for 2016-2020.