AEB assisted braking to improve driving safety
AEB is the autopilot system, which can detect the distance from the vehicle or obstacle through the sensor and assist the driver to brake within the dangerous distance. According to EuroNCAP analysis, 20% of drivers can use full braking in the event of an imminent rear-end collision, but it is possible that the collision can not be avoided because of the late braking time; 49% of drivers cause collisions due to lack of braking force; and 31% of drivers do not take any effective measures. AEB technology can reduce rear-end collisions by 38% in the real world, which will significantly improve the safety of driving.
The development of AEB is expected to accelerate, and the domestic AEB market space is nearly 5 billion in 2020.
Europe, the United States, Japan and other developed countries of the automobile industry have put AEB into the evaluation system, gradually making AEB a standard. Under the trend of automobile intelligence and the plan of made in China 2025, the domestic policy is expected to be strong, and the development of AEB is expected to accelerate. We estimate that the global AEB market space will be 2.6 billion by 2020.dollarIn 2015-2020, the compound growth rate was 30%. By 2020, China's AEB market will be US $750 million, with a compound growth rate of 72% from 2015 to 2020.
Focus on investment opportunities in AEB industry chain
The realization of AEB function integrates environment awareness, processing, control and execution. The realization of environmental awareness depends on a large number of sensors, including visual cameras and radar (millimeter wave radar, lidar, etc.). The implementation of processing mainly depends on accurate algorithms. Finally, the execution of braking depends on the braking system. We believe that the sensor is the first step of intelligent driving, the algorithm is the core of intelligent driving, and the actuator is the key support of intelligent driving. With the rapid popularization of AEB, investment opportunities in all aspects of the AEB industry chain are highlighted.
Recommend molding technology,Average victory electron, Asia Pacific shares,Xingyu co., Ltd., Central Plains internal matching
(1) Molding technology: the company's main business grows by 20% with high certainty, and has the ability and intention to cut into intelligent driving. Valuation according to the main business of the car 27 times PE+ Hospital 2 times PB+FinanceAccording to the equity method, the assets are reasonably valued at 10.8 billion yuan and the target price is 30 yuan. (2) Qunsheng Electronics: merger and acquisition of KSS and TS Dresden, comprehensively expand the field of active and passive security and becomeA sharesIntelligent driving absolute leader, the target price is 45 yuan. (3) Asia-Pacific shares: as a domestic brake leader, it has a perfect layout in the field of intelligent driving, including environmental awareness, algorithms, vehicle networking, automobile terminals and other fields, and is committed to building an intelligent driving ecosystem with a target price of 21 yuan. (4) Xingyu shares: the current market capitalization of 7.1 billion, corresponding to about 20 times of PE in 2016, is continuing to expand production to ensure the steady growth of the main business, and in-depth layout of the smart driving field, with a target price of 40 yuan. (5) Central Plains Internal matching: aimNew energy sourcesThe expectation of strategic transformation in the direction of intelligent manufacturing, high-end equipment manufacturing and automobile aftermarket is clear. Stock participation smart Feiyang has become the high-quality target of ADAS, with a target price of 13 yuan. Risk hint: smart driving is not as good as expected.