From earth to orbit: how incumbents can innovate their business model to enter the space economy

We analyze how incumbent firms from terrestrial industries address the opportunities offered by the Space Economy. Drawing on an extensive dataset collected through case studies across traditional sectors—agriculture, logistics, and automotive—we develop a conceptual model structured around three recursive and interdependent phases: Explore, Experiment, and Exploit, which describe the process through which firms integrate satellite data analysis into their business models. Specifically, the Expl