艾媒咨询 | 2025年中国军工产业发展状况及重点企业大数据监测报告

全球领先的新经济产业第三方数据挖掘和分析机构iiMedia Research（艾媒咨询）最新发布的《2025年中国军工概念板块上市公司经营数据分析报告》显示，2025年前三季度，军工概念板块营收前十企业合计实现营收3920.2亿元，归母净利润达174.85亿元，前三家合计贡献近六成。艾媒咨询分析师认为，这一高度集中的营收分布，反映出头部企业在行业中的领先地位及其所处的成熟发展阶段，也印证了当前军工行业竞争格局整体趋于稳定。与此同时，军工行业盈利模式以订单驱动为主，盈利能力受政策和市场需求影响较大。近年来，在国防预算连续多年保持7%以上增长、军贸出口加速、“十五五”规划衔接以及建军百年目标临近等多重驱动下，军工概念板块资产结构持续优化，整体研发投入强度也维持在较高水平，已稳步迈入“需求明确、产能兑现”的良性发展通道，进一步夯实了其作为国家安全战略支柱和高端制造核心载体的产业地位。
To systematically grasp the high-quality development momentum of China's national defense and military industry in the concluding year of the 14th Five-Year Plan, iiMedia Research, a world-leading third-party institution for data mining and analysis of the new economy industry, has recently released the China Military-Concept Listed Companies Operational Data Analysis Report in 2025. The report shows that in the first three quarters of 2025, the top 10 enterprises in the military industry concept sector in terms of revenue achieved a combined operating revenue of 392.02 billion yuan and a net profit attributable to parent companies of 17.485 billion yuan, with the top three contributing nearly 60% of the total. Analysts at iiMedia Research pointed out that this highly concentrated revenue distribution not only reflects the leading position of head enterprises in the industry and their mature stage of development, but also confirms that the overall competitive pattern of the current military industry is tending to be stable. Meanwhile, the profit model of the military industry is mainly order-driven, and its profitability is greatly affected by policies and market demand. In recent years, driven by multiple factors including the continuous growth of national defense budget by more than 7% for many years, the accelerated export of military trade, the connection of the 15th Five-Year Plan, and the approaching centenary goal of the founding of the people's army, the asset structure of the military industry concept sector has been continuously optimized, and the overall R&D investment intensity has also remained at a high level. The industry has steadily stepped into a sound development track featuring "clear demand and capacity fulfillment", which has further consolidated its industrial status as a strategic pillar of national security and a core carrier of high-end manufacturing.