Panerai has long understood that a watch destined for hostile environments demands more than good intentions. The Submersible Navy SEALs PAM01738, unveiled in mid-2026, represents the Florence-born, Neuchâtel-built Maison’s continued commitment to professional tool watches that hold an official licence from the United States Navy. It sits within the Navy SEALs Collection, a platform first launched in September 2022 that has since expanded steadily through Carbotech™, titanium, and now this steel execution fitted with the new P.980 calibre. What strikes immediately is the clarity of purpose: every design decision in the PAM01738 exists to serve function, not decoration. Panerai’s Chief Marketing and Heritage Officer Alessandro Ficarelli described it best when he stated that the piece honours a legacy of precision instruments for survival and adventure, viewed through a contemporary lens. For anyone who follows the brand closely, that is precisely the space where Panerai does its most convincing work.
Legibility in identity
The shaded anthracite dial builds its identity around legibility, and it succeeds convincingly. Panerai’s engineers widened the luminous hour indexes by 20% in diameter and expanded the Super-LumiNova® X2 surface area by 45%, delivering noticeably increased output in low-light conditions. The dual-colour luminous language reinforces underwater orientation: green for the hour markers and small seconds counter, blue for the minute hand and the luminous dot at 12 o’clock on the bezel. The target-inspired small seconds subdial sits at 9 o’clock, and subtle yellow accents alongside the dedicated Navy SEALs decal at 6 o’clock reinforce the military coding without excess. The date window at 3 o’clock completes the layout with straightforward utility.
The P.980 Calibre
The movement is where this release makes its strongest technical argument. The P.980 is an automatic calibre measuring 12½ lignes in diameter and 4.2mm thick, housing 23 jewels across 177 components, and beating at 28,800 alternations per hour within a single barrel. Its key structural upgrade over the predecessor P.900 is the traversing balance bridge, which replaces the cantilevered cock arrangement to provide superior lateral stability and, consequently, improved rate accuracy across all positions. The stop-second function, which halts the balance wheel precisely when the crown is pulled out, enables synchronisation to the second, a direct nod to the coordination demands of military diving operations. Panerai subjects the movement to six-position testing for chronometric reliability and validates resistance to magnetism up to approximately 1,000 Gauss. The Incabloc® anti-shock device protects the assembly from the impacts inherent to field use.
Steel and 50 bar water resist
The 44mm stainless steel case is built to 50 bar water resistance, approximately 500 metres, supported by an increased case-back thickness and a screwed, brushed stainless steel caseback engraved with the licensed Navy SEALs insignia. The unidirectional rotating steel bezel carries a matte black ceramic disc, combining the structural rigidity of steel with ceramic’s superior scratch and shock resistance. A black rubberised crown delivers confident grip in wet conditions, and every finished watch undergoes individual water-resistance testing at pressure levels exceeding the stated specification by 25%.
Availability and Price
The Submersible Navy SEALs PAM01738 hits boutiques worldwide in July 2026, priced at $12,400 USD / £10,400. It ships with two interchangeable straps, black rubber and grey canvas, and Panerai packages it in a box crafted from recycled paper. For a tool watch with this level of verified military-grade testing and an officially licensed connection to Naval Special Warfare, the proposition is straightforward and honest.
