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Summary
Pierroberto Folgiero, CEO of Fincantieri, Europe’s largest shipbuilder, urged European nations to enhance their underwater defense capabilities in light of increasing threats and the US’s retreat. Fincantieri anticipates its underwater division, focused on submarines and autonomous vehicles, to double its revenue to €820 million by 2027, driven by a growing global underwater economy. Following a 20% surge in share price, the company announced a partnership with Graal Tech for autonomous vehicles, amid a record €57.6 billion order backlog and strong post-pandemic growth.
