With over 230 years of history and over 7,000 ships constructed, Fincantieri is one of the most significant shipbuilding complexes in the world. Pierroberto Folgiero, the CEO of the company, is currently advocating for Europe to enhance its submarine defense capabilities in light of the tangled geopolitical landscape and the United States' gradual withdrawal. "Russian and American submarines have consistently patrolled the Mediterranean; however, it is now incumbent upon us Europeans to assume responsibility for submarine defense", Folgiero stated to the Financial Times. "If European countries are to increase defense spending, we must do so more efficiently", he continued. Last week, the publicly-controlled naval group disclosed its intention to double its subsea division within the next two years. Revenues are anticipated to reach 820 million euros in 2027, which accounts for 8% of the group's current revenue. Fincantieri estimates the underwater economy will grow by €50 billion annually, driven by investments in underwater defense and security by governments. Following the 2022 attack on the Nord Stream pipeline, various countries began to improve their submarine defensive capabilities, with a concentration on autonomous drones and anti-submarine technology.