Fincantieri, the Italian shipbuilding giant, has made a bold move to dominate the underwater technology sector. With the acquisition of Next GeosolutionsWSenseGraal Tech and Defcomm the company is positioning itself as a key player in security, energy, and critical infrastructure development. This strategic expansion is set to create an international underwater operator with a fully integrated value chain.
The underwater segment is becoming increasingly vital, and Fincantieri’s latest acquisitions are a testament to this growing importance. The four companies bring specialized expertise in marine survey services, underwater communications, the Internet of Underwater Things and autonomous vehicles. This diversification strengthens Fincantieri’s ability to serve both defence and commercial markets.
Building an Underwater Technology Hub
Fincantieri’s underwater technological hub will now comprise eight companies, offering a comprehensive range of services and technologies. The integration of these firms will enable substantial cross-fertilization, enhancing the For instance, Next Geosolutions‘ marine survey services will be seamlessly integrated with Vard-built work vessels equipped with Remazel’s launch-and-recovery systems. These vessels will deploy Graal Tech’s drones, which conduct seabed surveys and communicate via WSense’s underwater communication systems.
The synergy between these companies is expected to drive significant growth. In 2026, the underwater segment generated €667 million in revenues, accounting for 6.7% of Fincantieri’s total revenues. With the new acquisitions, revenues are projected to exceed €1.1 billion in 2026, and EBITDA is expected to reach approximately €220 million. These figures surpass the targets set for 2030 in the 2026-2030 business plan by four years.
The Dual-Use Advantage
A distinctive feature of Fincantieri’s acquisitions is their dual-use nature. The integrated technologies and capabilities enable the company to cater to both defence and commercial markets effectively. This versatility is a strategic advantage, allowing Fincantieri to capitalize on the growing demand for underwater technologies in various sectors.
Pierroberto Folgiero, CEO and managing director of Fincantieri, highlighted the significance of these acquisitions. He stated, “The acquisitions announced today mark a historic transformation for Fincantieri that creates an international champion in the underwater domain, enabled by full integration across the value chain of technologies, capabilities, and operational expertise.”
Financial Implications and Market Response
The acquisitions are expected to contribute significantly to Fincantieri’s financial performance. The group’s 2026 pro forma net profit is projected to exceed €60 million, thanks to these strategic moves. The market has responded positively, with Fincantieri’s stock price rising by 8% to €11.8 on the day of the announcement.
Looking ahead, the underwater segment is poised for substantial growth. By 2028, revenues are expected to reach €1.4 billion, and by 2030, they are projected to hit €1.8 billion. The EBITDA margin is also anticipated to improve, reaching 23% by 2030. These projections underscore the potential of Fincantieri’s underwater technology hub to drive long-term growth and profitability.
The company’s strategic focus on integration and dual-use capabilities positions it well to capitalize on the growing demand for underwater solutions in both defence and commercial markets.
