The preventive vaccines market has attained maturity in some of the disease segments, like polio, while for some diseases, it is yet to establish itself in the market. In spite of these differences in each segment, the market is continuously growing, due to the exponential growth that is varying, with respect to the demand for vaccination for separate diseases over time.

In 2018, airlines in the United States stretched their unbroken string of operating profits to eight years, but they’re now facing tough choices as costs increase and margins narrow. While persistently strong demand for air travel is pushing many carriers to add capacity, the additional routes and service are making pricing more competitive and putting pressure on yields. Airline operations also face mounting obstacles to sticking to their published schedules. For carriers, it’s coming down to a battle of growing capacity and revenue versus maintaining operational resilience. With predictions of a global economic slowdown in 2019 and 2020, remaining profitable may become more of a test. For the year ending in September 2018, the average carrier margin declined to 8.5 percent as higher operating costs began to offset rising revenue. That’s down 2.1 percentage points from the previous 12 months, and it marks the third straight year that US airline margins have contracted.

3 月，新船市场形势不容乐观，需求依然寡淡，累计新接订单量达到 459 万载重吨，同比下降 70.4%；供给方面，积压问题订单逐步消化，交付量自 2018 年来首迎正增长；在新船订单量大幅减少和交付量增长的作用下，手持船舶订单量继续下滑；新造船价格 20 个月来首次下跌，各分船型表现不同；出口需求显著恢复，同比降幅较上月底有所收窄；行业绩效水平继续向好，收入利润迎来双增长。

航母是世界大国海洋战略的基础，对于制海制空权、远距离立体攻防意义重大，拥有一定数量的航母编队是我国海军走向深蓝的必要保证。美国加快航母升级换代，新一代福特级航母已经列装，并加强太平洋航母打击群力量部署，威胁我国周边局势安全。

2019Q1 公募基金对军工行业重仓股持仓总市值（不含港股）为 221.59 亿元，持仓比例为 2.29%，环比下降 0.19 个百分点，其中，主动偏股型基金（普通股票型基金、偏股混合型基金和灵活配置基金）对军工行业重仓股持仓市值（不含港股）为 85.88 亿元，持仓比例为 1.27%，环比下降 0.34 个百分点。

3 月 3 日，上交所发布《上海证券交易所科创板企业上市推荐指引》和《上海证券交易所科创板股票发行上市审核问答》明确科创板优先三类企业，重点在七大领域，其中包括高端装备。本次分析的是航天关键电子系统领域领先企业国科环宇。

船舶在全球造船业深度探底、震荡下，如何更快更好地产能去化、加快结构升级成为我国造船行业能否实现弯道超车的关键。对比韩国等造船强国，我国造船业集中度仍有较大的提升空间，重组整合是大势所趋。结合 3 月 9 日国资委主任肖亚庆讲话，我们判断，2019 年有望成为船舶行业战略性重组的关键一年，建议重点关注南北船资产重组。

西部超导成立于 2003 年，控股股东为西北有色金属研究院，公司研发实力雄厚，成立至今承担各类科研和产业化项目 200 余项，已取得专利 316项。公司业务源于 ITER 项目对低温超导线材需求，此后逐渐形成以高端钛合金材料为主、超导产品为辅的业务格局，2018 年钛合金产品营收占比达 85.93%。