Fincantieri predicts sea defences to rival space as new investment is unleashed

One of the world's largest naval shipbuilders has predicted a dramatic expansion of defence investment in protecting the seas to rival the space build-up of recent years. Pierroberto Folgiero, CEO of Fincantieri, the leading Italian shipbuilding company that works closely with the UAE's Edge and an operator of shipbuilding sites around the world, flies into the Abu Dhabi exhibitions IDEX and NAVDEX on Monday as the expansion of defence budgets is lifting the industry. “Shipbuilding is becoming more and more geopolitical than ever before. The priority in Europe is relaunching shipbuilding as a key strategic capacity for a geopolitical bloc,” he told The National at the Munich Security Conference. “I think we have to imagine a new underwater which is what the space used to be 40 years ago. It's a technological space that needs to be occupied with new technologies, not only for the novel applications, but also for other adjacent applications, such as seabed mining or, in the long term, even aquaculture.” Technology is playing its part in the transformation of a sector that has been searching for a future in Europe since the end of the Cold War. “The future of shipbuilding is in the direction of robotics of certain activities and the future of the ship is more in the direction of being connected and interconnected – unmanned on certain kind of vessels and automation.” At the Munich forum, the Swedish Prime Minister Ulf Kristersson said a series of undersea cable failures were no coincidence at a time when Russia was under sanctions. “The Baltic Sea is obviously under threat,” said Mr Kristersson. The rising fears feed future demand but also point to new areas of growth, according to Mr Folgiero who says there is a sympathetic public for bigger navies. “Spending on the Navy is easier to explain to the taxpayer because the Navy is a deterrence, it's also defence of commerce, defence of seabeds,” he said. “It's something that can go beyond the current emotional times. “The protection of underwater infrastructure clearly needs to be reinforced. The threat was underestimated and there is a need for solutions. The naval platform is the most appropriate for doing so.” With the tensions that have stemmed from the Red Sea issues and the particular threats that face enclosed seas, like the Mediterranean and the Arabian Gulf, the Italian defence champion is happy to show its local foothold at the defence exhibitions this week. “The Middle East in general and UAE in particular are very active in this new era of defence. They have their own programme of expansion in the multiple domains, including the naval domain. We created a joint venture with Edge, which represents the defence and technology in the UAE, to collaborate for domestic demand as well as the countries in the region.”

Fincantieri predicts sea defences to rival space as new investment is unleashed

Pierroberto Folgiero says the combination of technology and rising risks is driving a boom in demand for new naval platforms