New materials are widely used in military industry: with the improvement of the requirements of national defense construction for equipment combat performance and the current situation of foreign blockade against China in high-precision and cutting-edge fields, the demand for equipment as basic materials in performance improvement and independence is becoming more and more urgent. Some new materials have become the material basis for the development of key fields of national economy such as aerospace, power, energy, chemical industry, machinery, metallurgy, electronic information and important support for national defense modernization because of their good mechanical properties, high temperature resistance, corrosion resistance or some specific environmental adaptability.
Carbon fiber and composites: the outstanding advantage of carbon fiber reinforced composites is that they have high specific strength (strength specific density) and high specific stiffness unmatched by any other material at present (modulus specific density) performance. In addition, carbon fiber reinforced composites also have the characteristics of corrosion resistance and fatigue resistance, so they are very suitable for the production and manufacturing of equipment and equipment with high weight reduction requirements, such as aerospace equipment, especially military aerospace equipment. The demand for carbon fiber in China’s aerospace field continues to grow, and the market demand will be 1700 tons in 2020 , a year-on-year increase of 21.43%.
Quartz fiber and composites: quartz fiber is an indispensable strategic material in the aerospace field because of its high strength, low dielectric constant and dielectric loss, high temperature resistance, low expansion coefficient, corrosion resistance and good designable performance. Quartz fiber maintains the lowest and stable dielectric constant and dielectric loss at high frequency and below 700 ℃. These excellent properties make it a structural reinforcement, wave transmission and thermal insulation material for key parts of a variety of aerospace vehicles.
Titanium alloy: titanium has the outstanding characteristics of low density, high specific strength, low thermal conductivity, good high and low temperature resistance, strong corrosion resistance and good biocompatibility. It is widely used in aviation, aerospace, ships, weapons, chemical metallurgy, marine engineering and other fields. Titanium and titanium alloys are of strategic significance to the development of national defense, economy and science and technology of a country. In the field of aviation, titanium alloy is one of the main structural materials of aircraft and engine. In recent years, the sales volume of titanium materials in China’s aerospace industry has continued to rise. With the finalization and batch production of new military models in China, the sales growth of titanium materials will significantly accelerate in 2020, reaching 15546 tons, a year-on-year increase of 54.09%.
Superalloy: nickel base superalloy is a modern aviation engine Materials for key hot end components of spacecraft and rocket engines, ships and industrial gas turbines (such as turbine blades, combustion chambers, etc.) is also an important high-temperature structural material for nuclear reactors, chemical equipment, coal conversion technology, etc. with the increasing requirements for the thrust weight ratio of new advanced aeroengines, there is an increasing dependence on high-performance superalloy materials. In new advanced aeroengines, the amount of superalloys accounts for 40% – 60% of the total weight of engines %Above.
Investment suggestion: carbon fiber and composite material targets Weihai Guangwei Composites Co.Ltd(300699) , Avic Aviation High-Technology Co.Ltd(600862) are recommended; It is recommended to pay attention to quartz fiber targets Hubei Feilihua Quartz Glass Co.Ltd(300395) , titanium alloy targets Baoji Titanium Industry Co.Ltd(600456) , Western Superconducting Technologies Co.Ltd(688122) , Western Metal Materials Co.Ltd(002149) , and superalloy targets Fushun Special Steel Co.Ltd(600399) , Gaona Aero Material Co.Ltd(300034) , Jiangsu Toland Alloy Co.Ltd(300855) .
Risk analysis: the risk that the speed of technological innovation is lower than expected; The risk of decline of dominant position caused by market competition; Risk of international business affected by Sino US trade friction and covid-19 epidemic.
