Guotai Junan Securities has issued a research report indicating that the defense sector has witnessed a recent upswing, while the commercial aerospace sector is undergoing a surge of significant catalysts. The reusable launch vehicle, Zhuque-3, developed by Blue Arrow Aerospace, successfully reached orbit. Although the verification of the first-stage recovery did not fully meet expectations, this achievement nonetheless paves the way for subsequent technological advancements. In parallel, Shanghai Yuanxing Satellite and Airbus have forged a market cooperation agreement concerning the 'Qianfan Constellation,' fostering the integration of space-air-ground communication solutions. Additionally, the Fourth Plenary Session of the 20th Central Committee has put forward the objective of "achieving the centenary goal of building a people's military on schedule and propelling the high-quality modernization of national defense and the military." Amidst escalating rivalry among major powers, a rise in defense spending has become unavoidable, with both domestic demand and foreign trade poised to fuel long-term growth in the defense industry.