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