| Abstract: |
Those seeking to drum up public support for the space industry frequently cite
its potential to generate valuable spillovers to other industries. However,
existing research on spillover effects overlooks differences in business
models among commercial actors and focuses only on individual projects or
specific space agencies. We analyze how evolving business models influence
spillovers by comparing the dynamic capabilities of traditional aerospace
conglomerates to those of new space firms, using a unique dataset of 35, 696
space-related patent applications. We find that, in addition to industries
directly related to space, such as aeronautics, sectors like manufacturing and
communication technology in particular benefit from space activities. At the
firm level, we observe that new space business models present greater
spillover potential and generate more spillovers than traditional aerospace
conglomerates. However, traditional conglomerates such as Airbus or Boeing
induce spillovers into digital systems and clean tech, while new space firms
cannot translate their digital business models into digital spillovers and
occupy more peripheral positions in the innovation network of space.
Additionally, based on two different innovation metrics and more than 1.6
million additional patent applications, we find no evidence that the business
models of the space industry have generally led to more spillovers than other
high-tech industries. |