The Space Economy between Challenges and Opportunities. The case of Italy

The Space Economy represents one of the most fascinating and strategic frontiers of the contemporary global economy. This sector, born from the convergence of technological innovation, scientific exploration, and economic opportunities, has progressively evolved to become a fundamental pillar for the competitiveness and sustainable development of nations. With the transition to the New Space era, characterized by increasing participation of private actors and a more commercial vision of space, opportunities for scientific, technological, and industrial progress have multiplied, encompassing a wide range of sectors, from satellite production to data management for terrestrial applications. In this context, Italy emerges as one of the most advanced nations, thanks to a solid industrial ecosystem, a longstanding tradition in the aerospace sector, and the strategic role of institutions such as the Italian Space Agency (ASI). This thesis aims to provide a comprehensive overview of the Space Economy, highlighting its composition and key global trends. Particular attention is paid to the Italian context, examining its industrial structure, global positioning, the role of aerospace technology districts and the contribution of public institutions, such as the Italian Space Agency (ASI), in promoting competitiveness and innovation. Finally, an econometric analysis was conducted on a sample of 65 Italian companies operating in the space industry to investigate the relationship between innovation and corporate performance, as well as the role of national aerospace districts in supporting company growth. The results revealed a positive and significant relationship between patents and revenue growth, with an impact manifesting three years after the patent application date. Moreover, the variable related to district participation showed a positive and significant effect, although with some limitations regarding the robustness of the result.