Let's weight the for and against :
FOR the Luminor :

• It packs a modified Unitas/ETA6497 movement, a simple but bulletproof manual movement that has been around for decades for good reasons.
• The Panerai sandwich dials age pretty well.
• So does Panerai's titanium and even if it scratches away over time, Panerai can polish it during a service.

AGAINST the Luminor :

• You really need to at least try a similar 44mm Panerai on your wrist because they wear like nothing else. Sure they wear smaller than their nominal size would have you think, but the thickness of the case is not for everyone and the thickness of the bracelets is often overlooked.
• "A watch with a renamed ETA costs HOW MUCH?" says the guy worried about value, and he might have a point.
• Panerai's strap ecosystem is a money pit. Sure you can get out of it and use third party gear, but in many cases you won't get to reuse buckles and clasps as they are specifically made to have unusual proportions (protip : Lic and Hirsch have options for Panerai straps that will work with their hardware)

FOR the Aerospace :

• A lot more functionalities
• Breitling's bracelets with their smaller links can be very well adjusted and get you a really good fit. It's not quite their "bullet bracelet" but it's getting close in terms of comfort.
• The Breitling anadigis can go up in size yet still wear very small thanks to their fairly thin profile all things considered.

AGAINST the Aerospace :

• Quartz anadigi movements tend fo have a shorter battery lifespan than regular old quartz for obvious reasons.
• Quartz anadigi movements are trouble waiting to happen. Some earlier ones from Tissot and Omega are already considered fully unrepairable and no compatible modern replacements exist. It may be a matter of time until the watch becomes a brick in waiting if something happens to it.
• Breitling will not polish bezels, they will replace them entirely as long as they have parts. And these cost.

 

Bla bla bla; here are the real facts that matter.

Panerai BOOMINOR:

• Delta-pasta-force, official watch of Italian military.
• 44mm is manly mans watch. Must have 1/4in knuckle hair to wear.
• "Mama mia, look at the time-a," and speak with hands like in old country so everyone notices your watch when it's time to go.

Breitling Aerowaste:

• 42mm is for little boys wrist. Looks good on lily white hands that have never turned a wrench or held a woman in the throes of passion.
• Quartz won't get you into VIP watch snob lunge like pure mechanical.
• When you check the time,"Duty calls, I have to go pilot my RC glider plane so I can earn my scout badge."

BOOMINOR WINS

 

The Panerai.

I wouldn't even be interested in that particular Breitling, but I also know for a fact that my own Luminor Marina gets more wrist time than any of my watches that look somewhat similar to the Aerospace. Unless the contender is the Mühle Glashütte Seebataillon (also titanium and comparable in size), then the race gets pretty close..

 

Like you said the Pan is simple manual wind and works. I found I actually hate manual wind after getting my "Grail" speedy pro, now that Muhle GMT is amazing and I want one so badly.

 

PAM for me all day every day. Ani-Digi watches are putting a hat on a hat. The digital part is completely unnecessary.

 

Not in my opinion. Have you ever used one? Super functional

 

The Breitling for me. I need a watch to measure things, not just run along with the time - which the Breitling incidentally also does better.

 

Voted for the PAM. I have considered both of these watches and the Panerai is back on the list while the Breitling is not. For me, I think I would like the Breitling initially and then will find it boring and uninteresting very quickly. I won't lie to myself and say I will use those feature, I know I won't. I have 5 G-Shocks and those features almost never get used. That Panerai is such an iconic watch that I think no matter how much hate the brand gets, I will still like the way it looks. That being said, I do believe trying one on, with approximate measurement is a requirement. They are big but they feel different. It like they were meant to be oversized.

 

The panerai by far, if you have a big enough wrist for it. It's absolutely huge.

I don't like the breitling, just not a fan of analogue / digital combos.

 

Panerai Luminor vs. Breitling Aerospace: if you own both, which you think will get more wrsit time?

My other watches.

Now, if you change the hypothetical to a Panerai Radiomir and a Breitling Navitimer, you'll have my attention.
I might spend more time with the Radiomir, because my eyes have gone bad. But it would still be a tough choice.

 

This is one of the very rare (if not only) case where I choose a quartz watch over a mechanical. Radiomir is the only Panerai I like personally.

 

They are so different you can't really compare much, in my opinion. So it boils down completely to personal preference and style. I'd go with the Panerai.

I'm not the Breitling design's biggest fan: It's a fairly straightforward design, but with two rectangular LCDs just slammed on the dial top and bottom. You could remove the screens from the design, and it would become just a regular watch. Also, if I were considering a titanium or steel ana-digi quartz, 2K would be a stretch, but I understand different buyers like different things and value other aspects of such a watch. I was looking back at the original Aerospace design from the mid-80s, and I prefer it.

(Image from Hodinkee)

However, I am pretty biased, as I'm generally not the biggest fan of ana-digi watches (excluding G-Shocks), but there are a handful of exceptions.

 

Panerai, but if you have the ability to later, do add the Breitling as well it’s a beautiful piece.

 

I have a PAM176 titanium and love it. I like big chunky watches. I used to own the Breitling, but I love the simplicity of the PAM.

 

Comfort is king; whichever one feels best on the wrist would win for me.

 

I think the design of Panerais is classic beautiful and timeless. (In fact I own a couple). I think the design of most Breitlings (including the one you've pictured) is kind of ugly and I don't see the popint of having both a digital and analog display. Both of my PAMs have ETA movements and I have owned both for over 15 years. They have been durable, accurate and reliable. They are also easy to service. If I were interested in a rugged quartz watch I'd just buy a G-shock and not spend thousands on a Breitling. My PAMs are comfortable and easy to wear. My PAM 24 has probably seen more wrist time than any of my other watches. The ability to quickly swap straps makes PAM versatiile watches that can either be dressed up or dressed down.

So I guess you know how I voted. But a lot of this stuff is subjective, so you should buy the watch that speaks to you.

 

Have both.

Apples to oranges. Great brands, but one is not like the other......

Get the one YOU like best and enjoy it.

 

Best response of any on this thread!
I agree!!

 

Had a 44mm PAM 005, have that exact Aerospace. The PAM was interesting but just too big and chunky for me, didn't keep it long. My Aerospace is my most worn watch at this time, super light and comfortable. It's the only piece in my collection I wear on the bracelet due to titanium.

 

I would start with the Panerai and then get the Breitling afterwards.

 

I’m no help because I like them both and see redeeming qualities in each their own way.

 

The Luminor will age well due to the timeless design. The weird numerals font on that Breitling already looks dated and never looked good, or particularly legible.

 

I think it's implied the Breitling price is for a pre-owned watch. MSRP on bracelet is around $4975. That said, it's HAQ and very lightweight compared to the Panerai. I am slightly biased because I own an Aerospace EVO.

No offense to Panerai owners, but having to undo that crazy crown guard to change time is a non-starter for me. But it is part of the Panerai design language.

 

Playing with the crown guard is one of the charms of Panerai
I also have the Breitling B-1, the older ana-digi version and I love both watches and wear them regularly, so my advice - start saving and get both !

 

Go Aerospace. Such a comfortable watch, looks fantastic, and more unique.

 

Pam all the way for me , for me the Breitling looks dated and bland when new and I think you get bored of it very quickly . Having said that my views are mine and what count are yours so go with what you like .

 

Two totally different watches.

Everything else aside I’m not attracted to the Panerai aesthetic.

The Breitling was a proper tool in my line of work and as such wore Gen. 1 and 2 version exclusively for nearly two decades. Breitling service is excellent, if probably now a little expensive, but everything is dealt with within the standard charge. My Gen. 1 one must be on at least its third movement, second dial and handset (they never tell you). The battery lasts about two years but I understand that as the movements age they become sensitive to battery changes and can fail - my AD refused to do battery changes after a certain point insisting it be done by Breitling Service so that at least of the movement did crap out it’d be their responsibility. But that comes at the full service cost! Ultimately I gave my Gen. 2 away and the Gen. 1 died after a Service installed battery leaked. Long retired I no longer need or desire a watch with the Aerospace’s functions.

 

I don’t like titanium… but of the two I’ld pick the Breitling Aerospace. Classic. And I prefer Radiomirs…

 

I've always thought Panerai tends to look a bit too simple for its price, although they do look nice.

Not long ago I would have preferred the Aerospace, but owners have been slapped before with very high service bills (higher than Breitling's website) when sending theirs for a necessary overhaul. While Breitling does seem to currently have an ETA sourcing agreement with Swatch Group, I would worry the watch could also eventually become obsolete if Breitling were to stop being supplied.

So between these two, I'd be inclined on taking the Panerai with a sizeable discount.

 

The Breitling Aerospace might get more wrist time for its versatility and comfort. It's thinner and lighter, which makes it easier to wear daily.