According to a research report from CITIC Securities, as of mid-December 2025, SpaceX has achieved a remarkable feat by successfully launching 3,095 Starlink satellites. On the domestic front, China is actively developing a reusable medium-lift launch vehicle that is on par with SpaceX's Falcon 9. This development holds immense potential to break through existing capacity bottlenecks. With launch costs expected to decrease, markets related to satellites, such as satellite communication and Earth observation, will experience accelerated growth. This trend will further cement the investment core status of commercial aerospace.

At present, entities such as China Starnet have stepped into the phase of mass satellite launches. This transition is being facilitated by the operationalization of Hainan launch sites and the introduction of new launch vehicles. The combination of high launch capacity and low costs is propelling commercial aerospace into a new era. Additionally, spatial computing is expanding the industry's potential, paving the way for a trillion-dollar market track. From an investment perspective, space computing and reusable rockets are emerging as key directions. Meanwhile, the low Earth orbit communication satellite chain stands out as the first sub-sector with a solid foundation in fundamental logic and market order.