Panerai Launches The Rugged Yet Reined-In Submersible Navy SEALs PAM01738
Panerai continues its official partnership with the U.S. Navy SEALs with a new Submersible. The watch’s 44mm stainless steel case has the brand’s characteristic cushion shape and a matte black ceramic unidirectional bezel. Following the ultra-limited Afniotech Experience model, this release extracts key design cues in a more grounded steel package. Crucially, PAM01738 skips the bundled military training experience. Instead, it focuses squarely on the Submersible’s credentials as a diving watch with a 500m depth rating.
The 44mm steel case lands in a sweet spot for many Panerai fans. As intriguing as the Afniotech’s hafnium case is, its uncompromising 47mm size and dense, battleship‑gray look arguably push the military aesthetic too far. This new Submersible reins things in. The gradient black‑to‑gray dial nods to the Afniotech while feeling far more wearable in stainless steel. It’s still purposeful, just less uncompromising.
Panerai Submersible Navy SEALs PAM01738
This latest model leans heavily into the brand’s official Navy SEALs partnership, which launched in September 2022. The collection typically features dégradé black‑to‑anthracite dials, and the PAM01738 continues that theme. The Submersible case already feels rugged, but the fully brushed finish adds even more tool‑watch intent. Pair that with the matte black ceramic bezel insert and black rubberized crown, and the watch firmly pushes itself into professional territory. The bezel’s graduated 15‑minute scale also serves a practical role for decompression timing.
Even ascending from relatively shallow dives requires controlled pauses. With a 500m depth rating, this Submersible goes far beyond human endurance. Panerai tests each case to 25% more than its stated depth. To meet this demand, the brand uses a thicker case back to reinforce the structure. This makes the case around 15.5mm thick. Panerai doesn’t publish this figure, but real‑world measurement puts it in that range.
In truth, anything over 15mm is a serious slab of metal. On paper, it competes with watches like the 43.5mm Omega Seamaster Planet Ocean. On the wrist, though, the experience differs. The cushion case spreads the mass across a wider footprint while keeping the lugs relatively compact. That balance helps it sit better than the numbers suggest. Still, it’s not a small watch, and trying it on remains essential.
Navy SEALs tactical features
The dial combines texture with functional detailing. A rifle‑scope‑style sub-seconds register at 9 o’clock leans fully into the military theme. It’s not purely aesthetic either. Each 15‑second marker uses Super‑LumiNova X2 inserts for added clarity. Panerai also increases the size of the applied hour markers by around 20%, boosting overall lume performance.
Legibility remains a strong point. The semi-skeletonized minute hand and bezel pip glow blue, while the hour markers and hour hand emit a green hue. The date window at three o’clock integrates cleanly and balances the layout. That said, one omission stands out. Unlike the Afniotech model, this dial lacks a full minute track. For a watch positioned as an instrument, that’s a miss. You can approximate using the bezel, but it’s not as precise as a dial-edge display.
Inside the watch beats the automatic P.980 caliber, providing a 72‑hour power reserve. A traversing balance bridge improves stability and shock resistance. Panerai tests each movement in six positions to ensure consistent timekeeping. The signature crown‑protecting bridge remains central to the design, locking the crown securely in place. The movement sits behind a solid steel case back featuring the engraved Navy SEALs insignia.
Final thoughts, specs, and pricing
The Submersible Navy SEALs PAM01738 feels like a more wearable counterpoint to the Afniotech watch. It keeps the aesthetic but dials back the extremes. The result works better in everyday contexts without losing its identity. Panerai includes two straps — a 24/22mm rubber one and an anthracite canvas option. Switching straps is also easy thanks to the built-in release system on the underside of the lugs.
The PAM01738 is a non‑limited release and will be available globally from July 2026. Pricing is set at €12,100 / US$12,400 / £10,400. More details are available on Panerai’s official website.
