2020Q4 加仓前十分别为中航光电、航发动力、睿创微纳、紫光国微、航天发展、火炬电子、振华科技、中航沈飞、光威复材、洪都航空。2020Q4 减仓前十分别为海格通信、中国重工、红相股份、宏大爆破、爱乐达、中航电子、中国海防、西菱动力、海兰信、中航机电。

新型武器装备列装加速的背景下，行业将保持高景气运行，建议重点布局率先受益于行业景气度提高的上游元器件、原材料等领域核心标的，关注主要产品批量列装的主机厂。

机轮刹车是飞机刹车系统核心构成。飞机刹车系统由舵面、发动机反推、机轮刹车、减速伞及特殊手段等联合实现减速。其中机轮刹车装置是最主要、应用最广泛的刹车装置之一，通过刹车系统控制刹车装置，来进行飞机的减速、着陆、转弯等标准动作。

整体持仓大幅增长，板块超配比例环比继续提升：2020 第四季度，军工板块（以重点跟踪的50 个标的为代表）流通总市值为13,324 亿元，占A 股流通总市值比例为2.07%，超越2014 年第三季度板块军工板块流通市值占比，达到历史高点。

截止到2020 年四季度末，公募基金军工持仓总市值为1049.11 亿元，相较于2020 年三季度末增长44.23%，持股总市值52689.46 亿元，军工股持仓占比为1.99%，相较20 年三季度1.75%的持仓占比提高了0.24 个百分点。

Smart railway is a technologically advanced approach to efficiently manage railway operations through sharing of rail data across rail infrastructure components, such as passengers, control centers, ticketing department, and freight. Smart railways incorporate a range of technologies such as Internet of Things (IoT), big data, cloud analytics, artificial intelligence (AI), global positioning system (GPS), and machine learning (ML). Smart railway solutions results in interconnected trains, infrastructure, and passengers to attain higher safety, optimized mobility, and lower costs. For the purpose of analysis, the report segments the global smart railways market into system, offering type, and region. Under the scope of the research, market comprises solutions, devices & components, and services that supports the rail companies to collect data to monitor and analyses all railway-related operations with high precision and accuracy.