Italian shipbuilding giant Fincantieri has signed four strategic agreements at Euronaval 2026 in Paris, strengthening its position in European naval defense programs while expanding its international industrial partnerships.
The agreements cover the next phase of the European Patrol Corvette program, a proposed joint venture with Spain’s Navantia, a new industrial partnership in Indonesia and cooperation with a Danish technology company on modular naval systems.
The announcements follow a separate agreement with Leonardo and coincide with the unveiling of Fincantieri’s new Multi-Mission Modular Vessel (MMMV), designed to accommodate different operational configurations.
Why it matters: The agreements reflect Fincantieri’s strategy of combining European industrial integration with a stronger presence in international defense markets, particularly those seeking to develop domestic shipbuilding capabilities through technology partnerships and local production.
- The Indonesian agreement is especially significant, providing the Italian group with a potential industrial platform in Southeast Asia while supporting Jakarta’s ambitions to strengthen its naval defense industry.
European naval cooperation moves forward. Fincantieri, France’s Naval Group and Spain’s Navantia signed the Consortium Agreement for the second phase of the European Patrol Corvette program (EPC2).
- The agreement marks the transition from the initial design phase toward preparations for the production of a new generation of modular, multi-role corvettes.
- The program is part of broader European efforts to strengthen cooperation in naval defense and develop platforms capable of meeting different operational requirements.
- Zoom in: Fincantieri and Navantia also signed a Heads of Agreement outlining the principal terms for establishing an equally owned joint venture.
- The proposed company would provide a common industrial and commercial platform for the two groups’ respective national programs and related export opportunities.
- The arrangement could facilitate closer industrial coordination between Italy and Spain, particularly as European navies seek increasingly flexible platforms and greater interoperability.
- The big picture: The two agreements underline the growing importance of multinational industrial partnerships in Europe’s naval sector, where the development of next-generation vessels requires substantial technological investment and coordination across national defense industries.
- For Fincantieri, the European Patrol Corvette program also represents an opportunity to consolidate its role in shaping the next generation of European naval platforms.
Indonesia becomes a strategic industrial hub. Fincantieri signed a Joint Venture Agreement with REPUBLIKORP, Indonesia’s largest privately owned defense industrial holding company, acting through its subsidiary PT Republik Palindo Internasional (RPAL).
- The agreement, signed in Paris on November 5, builds on strategic cooperation launched by the two companies at Eurosatory in June 2026. The joint venture will be established in Indonesia and operate as an industrial platform for cooperation in the country’s naval defense sector. Its activities will cover the marketing, design, construction and sale of selected naval platforms, including multi-role surface vessels, submarines and next-generation corvettes. The partnership will also provide lifecycle support services for vessels intended for Indonesia’s Ministry of Defence.
- Why it matters: Indonesia represents an important market for international naval manufacturers, with the development of domestic industrial capabilities increasingly central to its defense modernization ambitions.
- The partnership combines Fincantieri’s expertise in complex naval platforms, systems integration and lifecycle support with RPAL’s industrial capabilities and knowledge of Indonesia’s defense ecosystem.
- The objective is to establish a sustainable industrial presence capable of supporting local production while progressively expanding Indonesia’s technological and engineering expertise.
- Zoom in: Technology transfer, workforce development and industrial upgrading will be central to the partnership. The two companies intend to cooperate on improving engineering and production processes, upgrading shipyard facilities, training local personnel and developing Indonesia’s domestic supply chain.
- These activities are designed to strengthen local capabilities throughout the lifecycle of naval vessels, from initial design and construction to maintenance and long-term operational support.
- The partnership also reflects REPUBLIKORP’s broader role in developing Indonesia’s defense industrial capabilities across the land, maritime, aerospace and cyber sectors. Its subsidiary RPAL focuses specifically on naval platform design, systems integration, shipbuilding and lifecycle maintenance.
What they’re saying:
- Pierroberto Folgiero, CEO and Managing Director of Fincantieri, described the agreement as part of the group’s long-term industrial strategy in Indonesia.“This agreement marks a new step in our long-term commitment to Indonesia and reflects Fincantieri’s approach to strategic markets: combining our technological and industrial expertise with strong local capabilities. Together with REPUBLIKORP, we aim to contribute to the development of an increasingly advanced and competitive naval shipbuilding ecosystem, supporting Indonesia’s ambitions while creating the conditions for further opportunities across the region.”
- Norman Joesoef, Chairman of Republikorp Group Holding, emphasized the partnership’s contribution to Indonesia’s defense industrial autonomy. “The establishment of this joint venture represents a strategic step toward strengthening Indonesia’s maritime defence industrial independence. Through our partnership with Fincantieri, we are committed to advancing domestic shipbuilding capabilities, strengthening technological expertise and the competencies of Indonesia’s workforce, and expanding local production and maintenance capabilities for naval vessels. We believe this cooperation will not only support Indonesia’s national defence requirements but also lay a strong foundation for a competitive and sustainable maritime industry in the long term.”
What’s next: The joint venture could eventually pursue selected opportunities across the wider ASEAN region, including more technologically complex naval segments.
- This potential regional expansion would give the partnership a broader commercial dimension, positioning its Indonesian industrial base to address opportunities beyond the domestic market.
Modular technology takes center stage. Fincantieri signed a Letter of Intent with Denmark’s J.A. Solutions to develop cooperation on advanced modular and containerized systems for reconfigurable naval vessels.
- The agreement focuses on technologies that allow naval platforms to accommodate different mission requirements without extensive structural modifications.
- Such systems can increase operational flexibility by enabling vessels to integrate specialized equipment and capabilities according to specific deployment needs.
- Why it matters: Modularity is becoming an increasingly important feature of naval platform development as maritime forces seek vessels capable of performing multiple missions while maintaining operational adaptability.
- The cooperation with J.A. Solutions complements Fincantieri’s broader investments in next-generation naval technologies.
A new multi-mission vessel. During Euronaval, Fincantieri also unveiled its new Multi-Mission Modular Vessel (MMMV), designed around a flexible, open modular architecture.
- The platform can accommodate different containerized payloads, allowing its configuration to be adapted to specific operational requirements. Its potential missions include maritime security, surveillance, law enforcement, counter-piracy and operations against illicit trafficking. The vessel can also support intelligence gathering, underwater operations, communications intelligence, protection of critical maritime infrastructure and combat missions.
- The big picture: The MMMV illustrates the industry’s growing interest in naval platforms capable of adapting to evolving operational environments.
- For Fincantieri, the development of modular vessels also creates opportunities to integrate advanced technologies across surface and underwater operations, including capabilities relevant to the protection of maritime infrastructure.
Leonardo partnership strengthens Italian naval integration. The four agreements follow a separate Letter of Intent announced earlier in the week between Fincantieri and Leonardo.
- The agreement aims to consolidate the role of Orizzonte Sistemi Navali (OSN), the naval joint venture between the two Italian industrial groups, while strengthening their combined technological and industrial capabilities in domestic and international markets.
- The cooperation brings together Fincantieri’s shipbuilding and platform integration expertise with Leonardo’s capabilities in defense electronics and naval systems.
- Why it matters: The agreement reinforces the industrial framework supporting Italy’s naval defense sector and its ability to compete internationally through integrated technological solutions.
- It also complements Fincantieri’s European partnerships and international expansion strategy.
The big picture: Fincantieri’s announcements at Euronaval highlight three interconnected priorities: strengthening European naval industrial cooperation, expanding production and commercial partnerships in strategic international markets, and investing in flexible technologies for future maritime operations.
- The company’s industrial model combines shipbuilding with expertise in underwater solutions, mechatronics, electronics, digital naval systems, cybersecurity and artificial intelligence. With more than 230 years of history and over 7,000 vessels built, Fincantieri operates 18 shipyards worldwide and employs more than 24,000 people. Its industrial and management expertise remains concentrated in Italy, where the group directly employs approximately 13,000 workers and supports around 90,000 indirect jobs.
What to watch: The next steps in the European Patrol Corvette program, the establishment of the Fincantieri-Navantia joint venture and the implementation of the Indonesian partnership will provide important indications of how these agreements translate into industrial activity.
- In Southeast Asia, the potential expansion of the Fincantieri-REPUBLIKORP partnership beyond Indonesia could become particularly relevant as regional governments continue investing in naval capabilities and domestic defense industries.
- Together with the development of modular platforms such as the MMMV, these initiatives position Fincantieri to pursue opportunities across European and international naval markets.
