Canada picks German firm TKMS to build new submarine fleet

Canada has selected Germany's ThyssenKrupp Marine Systems (TKMS) over South Korea's Hanwha to build its new submarine fleet. The decision, reported on July 6, 2026, involves the purchase of up to 12 submarines, marking the largest defence deal of its kind for Canada. The move is part of Canada's efforts to boost its NATO defense spending. TKMS is a German shipbuilding company specializing in naval vessels.