Fincantieri Presents Underwater Segment, Revenue Expected to Reach 920 Million in 2027

During the DEEPDIVE - Analyst and Investor Underwater Day held in Milan, Fincantieri presented its long-term strategic vision for the development of its underwater segment to the financial community.

Accounting for about 4% of Group revenue in 2024, the segment is set to double in 2027, reaching 8%, with expected revenue of approximately USD$920 million (820 million euros) and estimated EBITDA of USD$170 million (152 million euros), with an EBITDA margin approaching 19%. Forecast results for 2025 and 2026 confirm the strength of this trend, with respective revenue projected at around USD$741 million and USD$808 million (660 million and 720 million euros) and EBITDA margins of 17.4% and 18.0%, well above the Group’s traditional shipbuilding activities.

Today, the underwater domain is a strategic area for security, energy, environmental monitoring, and underwater communications. Fincantieri aims to be a leading player in the development of this new strategic infrastructure, leveraging its ability to integrate complex capabilities and high-tech industrial assets. To oversee this transformation with consistency and vision, the Group has established the Underwater Technology Hub, an integrated industrial structure that coordinates all civil, military, and dual-use system activities through a single command capable of ensuring market presence and internalization of proprietary technologies with high added value.

The underwater segment brings together under one management the Group’s capabilities in submarine design and construction, WASS Submarine Systems' technologies in effectors and acoustic sensors, IDS - Ingegneria dei Sistemi’s expertise in unmanned, radar, and advanced communication systems, and Remazel Engineering’s know-how in topside systems for the deployment, recovery, and operational interfacing of autonomous vehicles. 

The global market for the underwater sector is estimated at approximately USD$56 billion (50 billion euros) per year, with a component accessible to Fincantieri of about USD$24 billion (22 billion euros) yearly. In this context, the Group positions itself as a driver of underwater transformation, offering integrated solutions ranging from defense to infrastructure security, offshore energy, aquaculture, and deep-sea mining.

Further strengthening this technology platform, Fincantieri today also announced the signing of a Memorandum of Understanding between IDS and Graal Tech S.r.l, a leading Italian company in underwater mechatronics. The agreement entails exclusive collaboration for the development and commercialization of small and medium-sized autonomous underwater vehicles, their control and simulation systems, and the creation of a national center for testing, qualification, and training, intended to become a benchmark for developing new professional skills in underwater robotics.

The agreement reinforces Fincantieri’s role as both a system integrator and a developer of enabling proprietary technologies. With this agreement, Fincantieri reaffirms its ability to leverage the industrial ecosystem it operates in and contributes to maintaining and advancing the national system by involving highly specialized local firms across multiple key sectors in large-scale, high-value projects.