ThyssenKrupp selected to build Canada’s new submarine fleet

Neena Mae Rayos, Philippine Canadian Inquirer
July 8, 2026

(Photo Courtesy: Mark Carney | Facebook)

CANADA – Canada has selected Germany’s ThyssenKrupp Marine Systems (TKMS) to build up to 12 new submarines, marking the nation’s largest military procurement in history.

Prime Minister Mark Carney announced the decision just days before heading to the NATO summit, framing the deal as a critical step toward bolstering Arctic sovereignty and strengthening transatlantic ties.

The TKMS platform, already in service with more than a third of NATO members, was chosen over a bid from South Korea’s Hanwha Ocean, with Carney highlighting its proven capability in cold waters among allied navies.

While the exact price amount remains undisclosed, officials expect the project to involve tens of billions of dollars in investment.

The new fleet is set to replace Canada’s aging Victoria-class submarines, which were acquired secondhand from the UK in the 1990s and are long overdue for retirement.

Production timelines have been accelerated through cooperation with Germany and Norway, the submarines’ original designers, allowing Canada to receive four vessels by 2034—two years ahead of TKMS’ initial projection.

This push aligns with Carney’s broader defense strategy to raise military spending to 5% of GDP by 2035, following this year’s achievement of NATO’s 2% target.

With no U.S. bids due to their focus on nuclear-powered subs, the deal underscores Canada’s commitment to conventionally powered vessels and its growing role as a reliable partner in NATO’s maritime defense architecture.