Canada has picked Thyssenkrupp Marine Systems as the leading supplier to build its new submarine fleet. The Canadian Patrol Submarine Project is the most costly defense procurement in its history.
Industry sources say the award to TKMS highlights Germany’s growing role in NATO. South Korean firms lost the bid after Hyundai Heavy Industries and Hanwha Oceanic units refused to partner with TKMS. German officials said the contract will strengthen NATO ties and increase domestic shipbuilding output.