According to a research report from CITIC Securities, by around 2026, the commercial space industry will hit a pivotal turning point, shifting from the stage of "technology verification" to "large - scale industrialization."

As the China Starnet and G60 Qianfan constellations are launched in batches, and with the operational roll - out of the Hainan Commercial Launch Site and commercial carrier rockets, the industry is set to step into a new era characterized by high - capacity and low - cost operations. Moreover, space - based computing power will further unleash the industry's development potential.

Advancements in areas like lunar exploration, deep - space exploration, and space tourism will keep tapping into the industry's latent possibilities. From an investment perspective, currently, notable directions encompass reusable rockets, SpaceX - related chains, and space - based computing power.

However, the LEO communication satellite chain stands head and shoulders above the rest as the first sub - sector that is underpinned by fundamental logic and order. When it comes to investment, more attention should be paid to core assets. Emphasis should be placed on "inflation - linked segments" and "marginal growth" directions. There is a positive outlook on related investment targets, including rocket 3D printing, satellite RF antennas, satellite carbon fiber composites, solar arrays, and inter - satellite laser communication.