Panerai’s New Military Green Beasts - The Submersible Marina Militare & Marina Militare Carbotech

11/08/2025

If you’ve been in the watch world for even a week, you’ve probably heard Panerai’s name tossed around whenever someone mentions “military watches.” In their case, it’s not just marketing bs - the brand’s roots go deep with the Italian Navy, and the latest drop keeps that connection alive in a big, olive-drab way.

Meet the Submersible Marina Militare (PAM01697) in stainless steel and its tougher, carbon-armored sibling, the Submersible Marina Militare Carbotech (PAM01698). Two watches that look like they were pulled straight from a special-ops gear bag, then polished just enough to feel at home under a tailored jacket.

Source: Hodinkee

The Carbotech: Stealth Mode, Activated

The Carbotech is the wilder of the two. At 44mm across and 14.25mm thick, it’s not pretending to be modest. The case is made from Panerai’s carbon fiber composite - a material that’s both lightweight and ridiculously tough. Water resistance with this one goes to confident 300 meters.

Inside beats the P.900 automatic movement, good for a solid 72-hour power reserve. You’ll find that movement hiding behind a screw-down titanium caseback, DLC-coated for extra stealth, and stamped with a Marina Militare & Aviazione Navale wings emblem.

The dial is where it gets gritty: a green-grained matte finish that fades to black at the edges, engraved with the anchor insignia from Italy’s naval aviation branch. The indices are now 20% larger for better legibility, glowing in grey Super-LumiNova when the lights go down. And of course, there’s a unidirectional carbon bezel for timing those dives (or your espresso shots).

Source: Hodinkee

The Steel: Same Spirit, Less Drama

If the Carbotech is the Navy SEAL in full gear, the steel PAM01697 is the same guy at a dinner party. It’s 316LVM stainless steel, a little slimmer at 13.45mm thick, and comes with a matte green ceramic bezel insert instead of full carbon.

Same P.900 movement, same water resistance, same strap options - you just get a slightly different feel on the wrist. And at €11,500 versus the Carbotech’s €18,000, it’s easier on the wallet (relatively speaking).

Source: Hodinkee

Straps & Wearability

Both versions come on a green canvas strap with contrast stitching, plus an extra black rubber strap for when you’re actually getting wet. The canvas strap looks right at home with the military vibe - though some might argue Panerai could have thrown in a bracelet option just to round it out.

The Good Stuff

I’ll admit it: I’m a sucker for a green dial done right. When it’s paired with a blacked-out case, it hits that sweet spot between tactical and stylish. Both watches deliver exactly that. The bigger indices are a nice touch - they make the dial easier to read and, honestly, give it a bolder presence.

And while Panerai has done countless “tribute to our military roots” pieces before, the execution here feels cleaner than some of their past releases. The branding is there, but it’s not too much.

Source: Hodinkee

The Not-So-Good Stuff

Here’s where it gets tricky: the price. For context, a steel Luminor Marina Panerai released earlier this year costs over €4,000 less, has an updated movement with the same power reserve, and actually boasts 500 meters more water resistance - plus a display caseback.

So what’s the extra money here buying you? Mostly the aesthetics, the Carbotech material (for the pricier one), and the Marina Militare tie-in. For hardcore Paneristi or someone obsessed with the look, it might be enough. For spec-driven buyers? It’s a tougher sell.

Source: Hodinkee

Verdict

These new Submersibles aren’t meant to be universal crowd-pleasers. They’re statement pieces - the kind of watches you buy because you’ve always loved Panerai’s military side, or because you want something that looks like it belongs on the wrist of a naval commando.

Are they perfect? No. Are they cool? Absolutely. And in a market where so many dive watches feel safe and predictable, Panerai’s willingness to go bold still counts for something.