Fincantieri announces massive investments in European underwater technology!

Fincantieri announces massive investments in European underwater technology!

Fincantieri, Europe's largest shipbuilder, plans to significantly expand its subsea division in the coming years. CEO Giuseppe Folgiero emphasized in an interview with the Financial Times that it was time for Europe to strengthen its underwater defense. This is particularly evident against the backdrop of increasing tensions since the Russian invasion of Ukraine in 2022, during which Russia was repeatedly accused of sabotaging undersea cables. The increasing threats from underwater infrastructure required higher levels of security; European forces have therefore increased their protection and set up a new NATO special unit to monitor important infrastructure.

Fincantieri's underwater division specializes in the development of submarines, underwater drones and other advanced technologies. By 2027, this area is expected to account for 8% of total group sales, which corresponds to around 820 million euros. To achieve these goals, the company plans to partner with Graal Tech to develop new underwater drone technologies.

Strategic acquisition to strengthen defense capabilities

In addition to these plans, Fincantieri recently acquired Leonardo S.p.A.’s underwater weapons and systems business, creating WASS Submarine Systems. The purchase price for this takeover is 287 million euros, but could rise to up to 415 million euros through performance-related bonuses. This acquisition is considered a crucial step for naval defense and aims to strengthen Fincantieri's technological capabilities in the underwater domain. The integration of expertise in underwater acoustics and advanced weapon systems is of central importance.

The acquisition also opens up new opportunities for Fincantieri for military and civil applications, particularly for protecting critical infrastructure such as submarine cables and offshore energy assets. CEO Pierroberto Folgiero highlights the importance of this expansion for the company's technological leadership. With increasing demand for advanced undersea technologies, nations are expected to increasingly invest in defense capabilities.

Geopolitical relevance of the Mediterranean

Folgiero also mentions the geopolitical relevance of the Mediterranean, which he considers more important for defense in Europe than the Baltic Sea. Companies such as the German company Helsing are also working on innovative solutions by developing new underwater drones with the British Royal Navy to monitor underwater infrastructure. Fincantieri sees itself as a pioneer in this dynamic industry and would like to further consolidate its competitive position through strategic measures such as this acquisition.

The next few years will be crucial in determining how Fincantieri implements its vision and whether the company can achieve its growth goals and potentially initiate further acquisitions or partnerships. Continued interest in strengthening undersea defenses could also spark a wave of similar transactions within the industry as other companies look for ways to expand and improve their capabilities.

For detailed information on Fincantieri's plans and developments in the maritime defense industry see Yahoo Finance and Maritime Technology Review.