Panerai's Military Watch Legacy Levels Up With An Aerial Twist
3 min read
Panerai’s historic alliance with the Marina Militare dates back to 1910, when the brand first began developing precision instruments for the Italian Navy. By 1935, Panerai had introduced its first luminous watch prototype crafted specifically for underwater commandos. Built to meet the demanding needs of military divers, these timepieces prioritised legibility and durability. For decades, they remained strictly military issue, only becoming available to the public after Richemont acquired Panerai in 1997.
Fast forward to 2025, and Panerai has turned its focus to another chapter of Italian naval history: the Aviazione Navale, or Naval Aviation branch. This marks the first time the brand draws inspiration from this division, blending flight aesthetics with its well-established naval heritage. The result? Two striking Submersible models that embody military precision on both sea and in the skies.
Both the new Submersible Marina Militare (PAM01697) and the Submersible Marina Militare Carbotech™ (PAM01698) reflect Panerai’s deep-rooted relationship with the Italian Navy. The dials feature the engraved anchor insignia of the Aviazione Navale, while the signature OP logo two arrows pointing up and down symbolises the brand’s dual domain expertise: land and sea. From the olive green palette to robust cases and oversized design, these watches are unmistakably made for modern-day heroes.
Let’s start with the Carbotech version (PAM01698). Sized at 44mm in diameter and 14.25mm thick, this model is housed in a lightweight, high-performance carbon fiber composite case with 300 metres of water resistance. The P.900 automatic movement inside delivers a 72-hour power reserve, sealed behind a blackened titanium DLC caseback engraved with both the Marina Militare and Aviazione Navale wings insignia. The dial features a green-grained matte surface with a black gradient finish, paired with grey Super-LumiNova® X2 on enlarged hands and indices now 20% bigger for better legibility. Completing the look is a unidirectional bezel in black carbon and a green canvas strap.
Its steel sibling, the Submersible Marina Militare PAM01697, shares much of the same DNA but comes in a 316LVM stainless steel case that’s slightly slimmer at 13.45mm. It features a matte green ceramic bezel insert and the same P.900 calibre, water resistance, dial layout, and strap but comes at a more accessible price point.
From a collector’s lens, another diver might not be an immediate need. But visually? The stealthy black case and military green dial make for a rugged, irresistible combo that could easily win over even the most curated collection. While the “Marina Militare” branding is front and center, it’s tastefully done and less dominant than in past editions.
That said, the pricing will spark some debate. Earlier this year, Panerai released a steel Luminor Marina with a comparable movement, higher water resistance (500m), and a sapphire display caseback all for over $4,000 less. So while the specifications may not fully justify the jump, for many buyers, this purchase will come down to aesthetics and the emotional pull of Panerai’s military legacy.
Price:
PAM01697 (Steel): $12,500
PAM01698 (Carbotech): $19,500
