The engineering sector of Friuli Venezia Giulia is growing again and shows signs of resilience in a still complex scenario. This is clear from the latest report by the FVG Metal Mechanics Observatory, promoted by the COMET Cluster in collaboration with Area Science Park, Intesa Sanpaolo and the Universities of Trieste and Udine. The analysis shows an increase of 0.9% in the sector for 2025, in sharp contrast to the rest of regional manufacturing, which recorded a decrease of1.4%. 

The Observatory, in which the University of Trieste participates as a scientific partner through the Department of Economics, Business, Mathematics and Statistics (DEAMS), offers a detailed picture of a sector that accounts for around 43% of regional manufacturing on its own. The report presented at the end of 2025 certifies a reversal of the trend after two years of slight declines, showing how the FVG metalworking companies are reacting with determination to the complexity of international markets.

The economic and financial analysis gives an articulated picture: between 2021 and 2024, the sector’s overall turnover grew by around 8.7%, in line with national trends, but the comparison between 2024 and 2023 shows a contraction of 4.1% in the region, more marked than the Italian average. Profitability (Ebitda margin) fell to 10.8%, approaching national values, while capital strength improved, with an increase in the share of equity in liabilities.

The report also highlights a growing polarisation of this industry: micro and small companies are more exposed to market difficulties, while medium-sized and large companies, which are more export-oriented and have young governance, perform better. A distinctive feature of the engineering sector compared to the rest of regional manufacturing is the greater propensity to innovate: over a third of companies present concrete signs in this area, including patents, participation in European projects and collaborations with startups and research centres.

In this context, the role of the University of Trieste is to support the production system in reading emerging trends and risks. DEAMS contributes to the design and interpretation of the Observatory’s data, complementing quantitative analysis with qualitative survey tools, such as instant polls on companies’ expectations and strategies with regard to economic, geopolitical, social and technological factors.

‘The 2025 data confirm a key element: regional engineering companies are reacting decisively to the complexity of the international scenario’, comments Professor Guido Bortoluzzi, Professor of Innovation Management and Entrepreneurship at the University of Trieste. ‘Market diversification strategies show concrete signs of effectiveness and, despite geopolitical uncertainties and new tariffs, the sector has been able to navigate the storm better than the rest of the manufacturing sector.’

However, Bortoluzzi draws attention to the challenges that are emerging: ‘We cannot ignore the growing polarisation of this industry: the gap between those who run, driven by exports, certifications and a young governance, and those who struggle, is widening. The time for decisions based only on intuition is over. The future requires a paradigm shift for our companies based on strategic agility, data clarity and the ability to capture weak signals of change.’

To explain this passage, Prof. Bortoluzzi uses a maritime metaphor: ‘Radars are needed to intercept new emerging macrotrends, be they technological, economic or social. Internal connection “networks” are needed to quickly share information and make decisions faster than in the past. Finally, companies need to learn how to casting their “nets”: either by diversifying into more sectors to fish on the surface, or by specialising vertically in its core business to fish deeper and remain competitive in a world where competition has expanded. We have learned to navigate stormy seas, now we need to look up and prepare for the future with continuity, vision and courage.’