Panerai’s New Military Green Beasts

13 August 2025

If you’ve been in the watch world for even a week, you’ve probably heard Panerai’s name whenever “military watches” come up. In their case, it’s not just marketing fluff - the brand’s roots run deep with the Italian Navy, and their latest release keeps that bond alive in a big, olive-drab way.

Meet the Submersible Marina Militare (PAM01697) in stainless steel and its tougher, 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 work under a tailored jacket.

🖤 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 crafted from Panerai’s carbon fiber composite - a material that’s both lightweight and incredibly tough. Water resistance is a confident 300 meters 🌊

Inside beats the P.900 automatic movement with a 72-hour power reserve. The movement sits behind a screw-down titanium caseback, DLC-coated for extra stealth, and engraved with the Marina Militare & Aviazione Navale emblem.

The dial has a gritty character: a green-grained matte finish fading 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 after dark 🌌 The unidirectional carbon bezel is ready for dives (or timing your espresso shots ☕️)

⚙️ The Steel: Same Spirit, Less Drama

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

Same P.900 movement, same water resistance, same strap options - just a different wrist feel. And at €11,500 versus the Carbotech’s €18,000, it’s notably easier on the wallet 💶

⛓ Straps & Wearability

Both versions come on a green canvas strap with contrast stitching, plus an extra black rubber strap for active use. The canvas suits the military vibe perfectly, though some might argue Panerai could have added a bracelet option to round out the package.

✅ The Good Stuff

I’ll admit it: I love a well-done green dial. Paired with a blacked-out case, it hits that perfect balance between tactical and stylish. This is exactly that. The larger indices are a smart move: better readability and a bolder wrist presence.

While Panerai has done many “tribute to our military roots” pieces before, the execution here feels cleaner than in some past releases. The branding is there but not overdone.

⚠️ The Not-So-Good Stuff

Here’s the sticking point: the price. For comparison, a steel Luminor Marina released earlier this year costs over €4,000 less, has an updated movement with the same power reserve, boasts 500 meters more water resistance, and even has a display caseback.

So what’s the extra money buying you here? Mostly the aesthetics, the Carbotech material (in the pricier one), and the Marina Militare tie-in. For hardcore Paneristi or anyone obsessed with the look, that may be enough. For spec-driven buyers? A harder sell.

🎯 Verdict

These new Submersibles aren’t made for universal appeal. They’re statement pieces - watches you buy because you’ve always loved Panerai’s military side, or because you want something that looks like it belongs on a naval commando’s wrist.

Perfect? No. Cool? Absolutely. And in a market where so many dive watches feel safe and predictable, Panerai’s willingness to go bold still matters.