diff --git a/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t0.j2 b/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t0.j2
index 8c3cac4b80..5529ee3d85 100644
--- a/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t0.j2
+++ b/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t0.j2
@@ -1,8 +1,8 @@
 {% set default_cable = '5m' %}
-{% set ingress_lossless_pool_size =  '4194304' %}
-{% set ingress_lossy_pool_size =  '7340032' %}
-{% set egress_lossless_pool_size =  '16777152' %}
-{% set egress_lossy_pool_size =  '7340032' %}
+{% set ingress_lossless_pool_size =  '5029836' %}
+{% set ingress_lossy_pool_size =  '5029836' %}
+{% set egress_lossless_pool_size =  '14024599' %}
+{% set egress_lossy_pool_size =  '5029836' %}
 
 {%- macro generate_port_lists(PORT_ALL) %}
     {# Generate list of ports #}
diff --git a/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t1.j2 b/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t1.j2
index 45433b1b26..f418e2ffa1 100644
--- a/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t1.j2
+++ b/device/mellanox/x86_64-mlnx_msn2700-r0/ACS-MSN2700/buffers_defaults_t1.j2
@@ -1,8 +1,8 @@
 {% set default_cable = '5m' %}
-{% set ingress_lossless_pool_size =  '2097152' %}
-{% set ingress_lossy_pool_size =  '5242880' %}
-{% set egress_lossless_pool_size =  '16777152' %}
-{% set egress_lossy_pool_size =  '5242880' %}
+{% set ingress_lossless_pool_size =  '2097100' %}
+{% set ingress_lossy_pool_size =  '2097100' %}
+{% set egress_lossless_pool_size =  '14024599' %}
+{% set egress_lossy_pool_size =  '2097100' %}
 
 {%- macro generate_port_lists(PORT_ALL) %}
     {# Generate list of ports #}
diff --git a/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t0.j2 b/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t0.j2
index d40bc03fbb..e26ad28b9f 100644
--- a/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t0.j2
+++ b/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t0.j2
@@ -1,8 +1,8 @@
 {% set default_cable = '5m' %}
-{% set ingress_lossless_pool_size =  '8224768' %}
-{% set ingress_lossy_pool_size =  '8224768' %}
-{% set egress_lossless_pool_size =  '35966016' %}
-{% set egress_lossy_pool_size =  '8224768' %}
+{% set ingress_lossless_pool_size =  '14983147' %}
+{% set ingress_lossy_pool_size =  '14983147' %}
+{% set egress_lossless_pool_size =  '34340822' %}
+{% set egress_lossy_pool_size =  '14983147' %}
 
 {%- macro generate_port_lists(PORT_ALL) %}
     {# Generate list of ports #}
diff --git a/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t1.j2 b/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t1.j2
index fe8c27b9d3..b5e4ff8d17 100644
--- a/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t1.j2
+++ b/device/mellanox/x86_64-mlnx_msn3700-r0/ACS-MSN3700/buffers_defaults_t1.j2
@@ -1,8 +1,8 @@
 {% set default_cable = '5m' %}
-{% set ingress_lossless_pool_size =  '12042240' %}
-{% set ingress_lossy_pool_size =  '12042240' %}
-{% set egress_lossless_pool_size =  '35966016' %}
-{% set egress_lossy_pool_size =  '12042240' %}
+{% set ingress_lossless_pool_size =  '9158635' %}
+{% set ingress_lossy_pool_size =  '9158635' %}
+{% set egress_lossless_pool_size =  '34340822' %}
+{% set egress_lossy_pool_size =  '9158635' %}
 
 {%- macro generate_port_lists(PORT_ALL) %}
     {# Generate list of ports #}
diff --git a/platform/mellanox/fw.mk b/platform/mellanox/fw.mk
index c088fe274b..97ff9d93d4 100644
--- a/platform/mellanox/fw.mk
+++ b/platform/mellanox/fw.mk
@@ -11,12 +11,12 @@ else
 FW_FROM_URL = n
 endif
 
-MLNX_SPC_FW_VERSION = 13.2000.2720
+MLNX_SPC_FW_VERSION = 13.2000.3298
 MLNX_SPC_FW_FILE = fw-SPC-rel-$(subst .,_,$(MLNX_SPC_FW_VERSION))-EVB.mfa
 $(MLNX_SPC_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC_FW_FILE)
 
-MLNX_SPC2_FW_VERSION = 29.2000.2720
+MLNX_SPC2_FW_VERSION = 29.2000.3298
 MLNX_SPC2_FW_FILE = fw-SPC2-rel-$(subst .,_,$(MLNX_SPC2_FW_VERSION))-EVB.mfa
 $(MLNX_SPC2_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC2_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC2_FW_FILE)
diff --git a/platform/mellanox/mlnx-sai.mk b/platform/mellanox/mlnx-sai.mk
index baced27806..419598a6a7 100644
--- a/platform/mellanox/mlnx-sai.mk
+++ b/platform/mellanox/mlnx-sai.mk
@@ -1,6 +1,6 @@
 # Mellanox SAI
 
-MLNX_SAI_VERSION = SAIRel1.15.5-master
+MLNX_SAI_VERSION = SAIRel1.16.0-master
 
 export MLNX_SAI_VERSION
 
diff --git a/platform/mellanox/mlnx-sai/SAI-Implementation b/platform/mellanox/mlnx-sai/SAI-Implementation
index 4b40b5191b..df052a4062 160000
--- a/platform/mellanox/mlnx-sai/SAI-Implementation
+++ b/platform/mellanox/mlnx-sai/SAI-Implementation
@@ -1 +1 @@
-Subproject commit 4b40b5191b07118326a29be2d491f4362fc02eee
+Subproject commit df052a4062556e0f3a1e695fa73efccf81d32a9d
diff --git a/platform/mellanox/sdk-src/sx-kernel/Switch-SDK-drivers b/platform/mellanox/sdk-src/sx-kernel/Switch-SDK-drivers
index 026b12e2bd..fa26ae9d24 160000
--- a/platform/mellanox/sdk-src/sx-kernel/Switch-SDK-drivers
+++ b/platform/mellanox/sdk-src/sx-kernel/Switch-SDK-drivers
@@ -1 +1 @@
-Subproject commit 026b12e2bd02b79fdf50eb5f45a161c95ec94837
+Subproject commit fa26ae9d24b4d1ff162f56d83d944c2fc2bcea0b
diff --git a/platform/mellanox/sdk.mk b/platform/mellanox/sdk.mk
index f105f6b22f..6494224297 100644
--- a/platform/mellanox/sdk.mk
+++ b/platform/mellanox/sdk.mk
@@ -1,5 +1,5 @@
 MLNX_SDK_BASE_PATH = $(PLATFORM_PATH)/sdk-src/sx-kernel/Switch-SDK-drivers/bin/
-MLNX_SDK_VERSION = 4.3.2908
+MLNX_SDK_VERSION = 4.3.3052
 MLNX_SDK_ISSU_VERSION = 101
 
 MLNX_SDK_DEB_VERSION = $(subst _,.,$(MLNX_SDK_VERSION))