Industry analysis helps an organization understand the essential aspects of the industry. Moreover, it provides a better understanding of the company’s position in the market and helps in planning business strategies accordingly. The key segments discussed in this chapter while studying the global more electric aircraft market are as follows:

Over the past few years, the satellite industries market has been witnessing a shift in the trend from the usage of satellite for one-time stints toward their regular usage in satellite constellation. There is extensive demand for satellite constellations in the market owing to the increasing need for faster, reliable, and efficient real-time tracking and monitoring system for cargos, ships, etc., and earth observation (EO). Satellite constellations have numerous advantages, some of them that are expected to boost the market growth are listed as follows:

The presence of an existing mobile network with significant coverage, low discontinuation, high output, and low cost, drives the usage of the cellular-connected drone. Therefore, while different technologies such as satellite communication and radiofrequency have been used for connectivity in drones after a proper establishment of required infrastructure, the existing cellular network system globally is the most cost-efficient and reliable alternative for drone connectivity resulting in long-range BVLOS operations. Drone operations were restricted to visual range only while using radio connectivity, whereas drones can fly in long range with cellular connectivity due to strong long-range connectivity.

国防科技工业体系计划性强，五年规划在牵引行业需求方面扮演基石角色。展望“十四五”，军工行业有望迎来结构性加速：航天装备方向有望迎来系统性加速；航空装备方向新型军机有望迎来显著加速；电子装备作为配套产品其需求增速是其它各领域的加权平均，在信息化建设持续大力推进的背景下有望继续保持快速发展；地面装备与舰船装备有望保持平稳增长。

军工行业短期基本面的变化可以概括为如下，订单改善（很多军工企业都反映部分项目的十四五订单较十三五提升明显，且能看到未来3 年左右的整体订单）和订单可持续（十四五军工行业订单的高景气度已经于今年三季度末开始反应，今年第四季度或会提速，而明年十四五开局第一年可期）。

10月国内航线需求有所放缓。2020年10月，国航、东航、南航ASK较去年同期下滑29.2%，28.69%，19.07%。

为什么选择春秋与华夏？不断前行的成长性民营航空。1）历史数据看，春秋与华夏呈现了更明显的成长性与稳定性。a）成长性角度看：华夏航空近5 年收入复合增速33%，利润增速32%，旅客增速42%；春秋航空近5 年收入复合增速15%，利润增速16%，旅客增速14%；三大航合计收入、利润复合增速均为6%，行业旅客人数增速为11%。b）稳定性看：华夏航空单机利润稳定在1000 万左右，春秋航空基本在1800 万左右，三大航波动则较大。2）疫情下的数据表明了民营航空更快的恢复能力。Q3 民营航空均实现盈利，三大航扣除汇兑仍亏损，华夏航空更是连续两个季度盈利。