CITIC Securities: Gas turbine industry is booming, domestic manufacturers are accelerating to benefit.

The research report of Citic Securities stated that gas turbines are a type of highly efficient thermal power equipment, widely used in various fields such as power generation, oil and gas, aerospace, and marine. Power generation is the most important application area for gas turbines, benefiting from the expected increase in gas turbine installations, the electricity demand brought by the development of North American AIDC, and the increase in post-market maintenance and service business. The overall market is expected to enter an uptrend cycle. In terms of investment, overseas OEMs dominate the downstream integrated machine sector, while domestic manufacturers are still in the early stages of development. However, domestic manufacturers in the upstream core component supply chain have already begun deep cooperation with overseas OEMs. They are expected to fully benefit from the upward cycle of the industry's development dividends. Therefore, it is recommended to actively focus on investment opportunities in the upstream core component segment.