Cost Killer of Commercial Spaceflight! Overview of the Reusable Rocket Industry Chain Targets

Reusable Rockets - The "Cost Killer" of Commercial Spaceflight

"A rocket is scrapped after just one launch? That's too wasteful!"

The emergence of reusable rockets has completely overturned the "burning money logic" of space launches. Taking SpaceX's Falcon 9 as an example, by recovering and reusing the rocket body, the launch cost has been reduced by more than 50%, transforming commercial spaceflight from an "aristocratic game" into a "mass business."

Domestically, the pursuit is also relentless: projects such as the Zhuque-3, Long March 12A, and Tianlong-3 reusable rockets are accelerating their implementation, and a "space cost revolution" is underway.

II. Industry Background: Why Reusable Rockets are a "Must-Compete Track"?

The value of reusable rockets lies in the four words "repeated use."

- Cost plummeting: The cost of a traditional rocket launch is over a hundred million dollars per launch, while reusable rockets can reduce the cost to within 30 million dollars or even lower.

- Surge in launch frequency: The reusability of rockets means that satellites and spacecraft can be launched in "bulk." SpaceX can conduct dozens of launches in a year, and domestic efforts are also aiming for the goal of "multiple launches per month."

- Commercial scenario outbreak: low Earth orbit satellite constellations, space tourism, space station resupply... Reusable rockets are the "infrastructure" for these scenarios.

3. Comprehensive Analysis of the Industry Chain: SpaceX and Domestic Rockets as "Core Players"

3.1 SpaceX Supply Chain: Supplying the Global "Cost Killer"

SpaceX's Falcon 9 can be repeatedly recovered thanks to these A-share "unsung heroes":

- Western Materials: Provides high-temperature alloy materials for rocket bodies, allowing them to remain "unscathed" under the high temperatures caused by atmospheric friction.

- Chaojie Co., Ltd.: Developing rocket structural components, which is akin to providing a "skeleton" for the rocket, requiring them to be both lightweight and able to withstand launch impacts.

- Tongyu Communication, Sunway Communication: They are involved in the deployment of satellite communication antennas. After rocket recovery, the satellite networking that follows also depends on them.

- Zaiseng Technology: Supplies filtering materials for rockets to ensure a clean internal environment for the missile.

- Paike New Materials, Jintuo Co., Ltd., Baoti Co., Ltd.: They provide support in the fields of rocket engine components, precision castings, and titanium alloy materials, respectively, serving as suppliers of the "heart and bones" of the rocket body.

3.2 Zhuque-3 (Representative of Domestic Reusable Rockets): Dual Logic of Equity Participation and Supply

The Zhuque-3 is a "seed player" in China's reusable rocket sector, with industry chain companies divided into two categories: "equity participation layout" and "direct supply."

- Shareholding Camp:

Goldwind Technology, Luxin Venture Capital, Zhangjiang Hi-Tech, and RISE Materials: Through capital arrangements, they have secured the development benefits of the Zhuque-3 in advance.

- Supplier camp:

- Srey New Materials: Exclusively supplies the high-temperature copper alloy thrust chamber for the Zhuque-3 rocket engine, which is the "core component" for rocket reusability.

- Plutotech: Using 3D printing technology to manufacture precision rocket parts, which can reduce weight and enhance strength;

- GaoHua Technology: Provides sensors for rockets, akin to giving rockets "nerve endings" to sense flight status in real time.

- Aerospace Electrical, China National Machinery Precision, Aerospace Technology, Yingliu Co., Ltd.: They supply rocket electrical components, precision bearings, aerospace equipment, and high-end castings, respectively, and are the builders of the "capillaries" of the rocket body.

3.3 Long March 12A: The "Pioneer" of Domestic Medium-sized Reusable Rockets

The Long March 12A is a representative of domestic medium-sized reusable rockets, and the industry chain companies are similarly divided into "stakeholding" and "suppliers."

- Shareholding Alliance: Aerospace Electromechanical engages in capital layout to bind project development.

- Supplier camp:

- Blite and SLM Advanced Materials: continue to "double kill" in the fields of 3D printed parts and engine components.

- Aerospace Electronics: Supplies telemetry and control equipment for rockets, which is equivalent to giving rockets "eyes and ears."

- Jiufeng Energy: Provides special gases for rocket launches (liquid oxygen, liquid hydrogen, etc.), serving as the "energy source" for rockets.

AVIC Heavy Machinery and Gaona Aero Material Co., Ltd. are making efforts in the fields of rocket forgings and high-temperature alloy materials, respectively, to ensure the strength and heat resistance of the rocket body.

3.4 Tianlong-3: The "Dark Horse" of Private Rockets

The Tianlong-3 is a reusable rocket project by a private aerospace company, and its industrial chain layout is also clear.

- Equity Participation: Zhonghuan Transmission, Crystal-Optech, Hisun Pharmaceutical, Juhua Technology, and Jinchun Co., Ltd. have entered the capital market to share in the project's growth.

- Supply Camp:

- Paike New Materials, Gao Hua Technology: Continue their advantages in the fields of engine components and sensors.

- Feiwo Technology: Provides fasteners for rockets, essentially "screwing" the rockets, and each one must be "unbreakable."

- Furui Special Equipment: Specializes in cryogenic storage and transportation equipment to ensure the storage and transportation of rocket fuel (liquid oxygen, liquid hydrogen).

- SINOMACH Precision Industry Co., Ltd., Chaojie Co., Ltd., and Aerospace Technology: providing support in the fields of precision bearings, structural components, and aerospace materials.

3.5 Long March 10A: The "Future Anchor" of Heavy Reusable Rockets

The Long March 10A aims at "heavy reusable" capabilities and is a "weapon" for domestic deep space exploration. Industry chain companies are focusing on "equity participation + core supply."

- Stakeholding camp: Aerospace Engineering positions itself in the development of heavy rockets through capital layout.

- Supply Camp:

- Aerospace Power: Provides propulsion systems for rocket engines and is the core supplier of the "heart" of the rocket body.

- Jiufeng Energy: Continuously supplying specialty gases, heavy rockets "consume" more fuel, resulting in stronger demand.

- Aerospace Hi-Tech: Develops navigation equipment for rockets, essentially equipping them with "GPS" to ensure precise landing during recovery.

- Sinin Navigation: Provides high-precision positioning modules, reducing rocket recovery error to the "meter level."

4. Short-term Potential Targets: Who Can First Benefit from the "Reusable Rocket" Dividends?

In the short term, companies with high technical barriers, deep project binding, and clear orders are the most explosive.

1. SICC Materials: Exclusive supplier of parts for the Zhuque-3 engine, the "heart supplier" of domestically reusable rockets.

BLT: The application of 3D printing technology in various types of rockets is key to achieving "lightweight and high strength".

Aerospace Electronics: Dual layout in telemetry and laser communication, with core orders in Long March 12A and inter-satellite communication.

4. GaoHua Technology: A "hidden champion" in rocket sensors, a supplier of the "nerve endings" for multiple types of domestic rockets.