EDGE, a leading advanced technology and defense group based in Abu Dhabi, and Fincantieri, a major Italian shipbuilding company, signed a new Memorandum of Understanding (MoU) on February 24 in Rome during the state visit of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Italy, according to Fincantieri's release.
The agreement, building on a November 2024 pact in Paris, strengthens their Abu Dhabi-based shipbuilding joint venture, MAESTRAL, to focus on developing underwater technologies, aiming to position the United Arab Emirates (UAE) as a regional pioneer in underwater innovation.
The MoU targets the design, development, and construction of unmanned systems for critical underwater infrastructure protection, seabed mapping, next-generation submarines, drone-carrier ships, and lightweight torpedoes.
Hamad Al Marar, Managing Director & CEO of EDGE Group, stated, “Through MAESTRAL, EDGE and Fincantieri are advancing world-class underwater capabilities that will play a pivotal role in the future of subsea security and maritime defence. This partnership marks a significant step in positioning the UAE at the forefront of this strategically important domain, strengthening its role as a regional pioneer with globally competitive expertise. As underwater technologies become increasingly vital to national security, we are committed to driving innovation, enhancing sovereign capabilities, and setting new industry standards in this high-potential sector.”
Pierroberto Folgiero, Fincantieri CEO and Managing Director, added, “Since 1909 Fincantieri has a long-standing history in submarine construction, and has already established itself as a pioneer in the underwater sector, leveraging decades of systems integration expertise and cutting-edge innovation with a ‘dual’ focus either in the military and in the civilian space. The underwater domain is projected to reach $400bn by 2030 as defence public needs for countries globally are rapidly evolving. Through MAESTRAL, we are pleased to support the UAE’s ambitious naval strategy and alongside a trusted partner like EDGE, we will seek to deliver ground-breaking underwater solutions to meet future needs for its national capabilities.”
The partnership builds on EDGE’s 2022 acquisition of ADSB (Abu Dhabi Ship Building) and Fincantieri’s ongoing naval projects, including its $5.5 billion deal for six submarines with the Italian Navy. The underwater domain’s projected growth to $400 billion by 2030, driven by global defense needs, underscores the initiative’s strategic timing, with MAESTRAL targeting a $520 million UAE Navy support contract announced in February 2025.
Fincantieri is an Italian shipbuilding company, one of the world’s largest, headquartered in Trieste, specializing in naval vessels, cruise ships, and offshore platforms, with a strong presence in defense markets.
MAESTRAL is an Abu Dhabi-based shipbuilding joint venture between EDGE and Fincantieri, established to develop advanced maritime solutions.