Panerai’s latest Submersible Marina Militare models pay tribute to the Italian Navy’s naval aviation corps, known as the Aviazione Navale. The new PAM01697 in stainless steel and PAM01698 in Carbotech reinterpret the brand’s historic collaboration with the Marina Militare with modern materials and robust diving specs. Both 44 mm divers retain the classic cushion-shaped Luminor case and unidirectional rotating bezel while celebrating Panerai’s longstanding connection to military divers.

The Submersible Marina Militare models differ primarily in their case materials. The PAM01697 uses traditional stainless steel, while the PAM01698 is made from Panerai’s lightweight yet tough Carbotech composite. Both versions share the signature cushion‑shaped Luminor case measuring 44 mm across, with a unidirectional rotating bezel topped with a green ceramic insert on the steel model or carbon insert on the Carbotech model. Large luminous hour markers and skeletonised hands ensure great legibility, while the characteristic crown‑protecting bridge and a robust 300‑m water‑resistance rating underline their professional dive‑watch credentials.

Inside both Marina Militare references ticks Panerai’s automatic Calibre P.900. This thin, in‑house movement beats at 28,800 vibrations per hour and stores a respectable three‑day (72‑hour) power reserve in a single barrel. It drives hours, minutes and small seconds with hacking, and is hidden behind a solid caseback engraved with the Marina Militare crest on each edition. Combined with screw‑down crowns and robust gaskets, the watches offer a professional 300 metre water‑resistance rating and deliver the reliable performance required for military‑grade divers.

Both references are available now through Panerai boutiques and authorized retailers worldwide. The stainless‑steel PAM01697 retails around $12,500 USD and comes with a green rubber strap plus an additional black rubber strap. The Carbotech PAM01698 commands a premium thanks to its high‑tech carbon case; prices vary by region but exceed the steel model. These Submersible Marina Militare editions are part of the regular collection but production will naturally be limited due to the complexity of manufacturing the Carbotech case.