Weekly gathering of scientific and technological views (Communication)
Military embedded computer is the brain of modern military system and plays a core supporting role in information war. Military embedded computer is a special computer used in weapons and equipment, which has strict requirements for function, volume, reliability and security. Its form is a board or chassis integrating software and hardware. Among them, the hardware is mainly composed of embedded microprocessor and other components, and the software is mainly composed of embedded operating system, driver and application software. Modern war has changed from mechanized military form to information military form. There is an urgent and rigid demand for high-speed video processing, high-speed information storage, high-speed military communication and high-speed digital signal acquisition and processing.
Embedded computers are widely used in weapons and equipment of various services and arms. According to the weapon platform, it can be divided into missile borne, airborne, vehicle borne and shipborne embedded computers. In the field of missile borne, it is mainly used in missile borne electronic information system, including inertial navigation system, infrared seeker, radar seeker, laser seeker, etc; In the field of airborne, it is mainly used in avionics systems such as radar, communication, navigation, identification, electronic countermeasure, photoelectric detection, flight control, jamming delivery, power supply management and pylon management of military aircraft; In the field of vehicle mounted, it is mainly used in servo control, sighting instrument, comprehensive management, launch control, display and control device, etc. in vehicle mounted electronic information system; In the field of Shipborne, it is mainly used in radar and electronic countermeasure system in shipborne electronic system.
China’s industry structure is scattered, and the industrial chain is industrialized nationwide. At present, China’s military embedded computing industry is still dominated by computers subordinate to military industrial groups, and civilian military enterprises are used as supporting and supplement. Among them, the enterprises joining the army are represented by Chengdu Zhimingda Electronics Co.Ltd(688636) , Changsha Jingjia Microelectronics Co.Ltd(300474) , Jiangsu Leike Defense Technology Co.Ltd(002413) , and Sichuan saidI. In terms of industrial chain, foreign military computers generally use PowerPC processor, DSP signal processor, FPGA programmable device and flashmemory memory in hardware, and adopt advanced high-speed interconnection system in multiprocessor system. VME bus is widely used as the internal bus, and VPX bus is proposed based on it. The operating system mainly adopts the embedded real-time operating system VxWorks / Greenhill; Chinese military embedded computer hardware generally adopts PowerPC processor and x86 processor, the internal bus generally adopts CPCI bus, and the operating system mainly adopts embedded real-time operating system VxWorks / Linux. At this stage, China’s military embedded computer has been able to be produced nationwide.
The military embedded computer industry has a good growth, and the market space has rapidly exceeded 10 billion. In terms of scenarios, the missile borne field is expected to maintain a growth rate of more than 50% every year, benefiting from the large volume of main battle missiles and the demand for projectile guidance; In the field of airborne, it is expected to maintain a growth rate of about 30% every year, benefiting from the large volume of main combat aircraft and the increase in the proportion of avionics system value; In the field of vehicle and shipborne, it mainly benefits from the Informatization Transformation of weapon platforms, which is expected to maintain a natural growth of 10-15% every year. Combined with the US Department of Defense’s China military and security development report 2021, we estimate that the annual market space of China’s military embedded computers exceeds 10 billion yuan and will maintain a high growth rate.
Investment advice
Military embedded computing has a wide range of application scenarios and considerable monomer value. With the increase of the volume and penetration of main battle equipment, the market space is expected to continue to expand. In addition, the long-term accumulation of relevant enterprises in the military industry and the harsh characteristics of highly customized products build barriers and moats. It is suggested to focus on Chengdu Zhimingda Electronics Co.Ltd(688636) of military embedded computers covering the most complete military services and weapon platforms, as well as Changsha Jingjia Microelectronics Co.Ltd(300474) of airborne display and control system and Jiangsu Leike Defense Technology Co.Ltd(002413) of radar system.
Risk tips
The construction of national defense informatization was not as expected.
