The CEO of Italy’s state-controlled shipbuilder Fincantieri believes the company can play a pivotal role in revitalizing U.S. naval shipbuilding, following a push by former President Donald Trump to strengthen the sector.
Speaking to analysts, Pierroberto Folgiero said Fincantieri could “enable and support a kind of renaissance of shipbuilding in the U.S.,” particularly through its U.S. subsidiary, Fincantieri Marinette Marine, based in Wisconsin. The yard is currently building the delayed Constellation-class frigates for the U.S. Navy.
Folgiero pointed to Trump’s April 9 executive order aimed at rejuvenating American shipbuilding, which he said would help “debottleneck the performance of existing defense shipyards in the U.S., including ours in Marinette.”
Trump’s order came amid concerns that the U.S. Navy is falling behind China, with programs plagued by delays and cost overruns. A March report from the U.S. Government Accountability Office (GAO) was particularly critical, stating that the Navy’s acquisition strategy does not align with best practices for delivering fully capable ships on time and on budget.
The GAO noted that when the Navy awarded Fincantieri the contract to build the Constellation-class frigates in 2020, the design—based on the Italian FREMM-class—was touted as a low-risk, mature solution. At the time, the Navy said the design was 88% complete. However, after numerous design changes, the project is now only 70% complete and running three years behind schedule.
“As a result of these changes, in part, the frigate now bears little resemblance to the parent design that the Navy touted as a built-in, risk reduction measure for the program in 2020,” the GAO report said. It added that the redesign has led to excessive weight growth, prompting the Navy to consider cutting the ship’s speed requirement to stay within tolerances.
Trump, in a January interview with conservative radio host Hugh Hewitt, blamed the Navy for constant modifications. “They made changes. They always have to make changes,” he said. “They spend more money to make it worse.”
Despite these challenges, Folgiero expressed optimism about deeper U.S.-Italy naval cooperation. He referenced a joint statement issued during Italian Prime Minister Giorgia Meloni’s April visit to Washington, which included a pledge that “Italy will contribute to the maritime renaissance of the U.S. shipbuilding sector.”
Looking ahead, Folgiero said Fincantieri’s Sturgeon Bay yard in Wisconsin could expand its focus to building icebreakers, an area gaining importance with the rise of Arctic shipping routes. “A good example of technology-driven shipbuilding is icebreakers,” he noted, citing the company’s experience in the field.
Fincantieri also plans to establish a maintenance and repair hub for Constellation-class frigates at its Jacksonville, Florida facility, further embedding its role in the future of U.S. naval operations.