Calepin des entreprises international 2026 VA.pdf — page 214

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THYSSENKRUPP MARINE SYSTEMS (TKMS)
Business trends
	
 thyssenkrupp Marine Systems (tkMS) posted revenues of €2,118 million during fiscal year 2023-2024 (ended 
September 30th), up 15.6% year-on-year. The division has historically been involved in the design and 
construction of submarines and the design of surface vessels (construction being largely subcontracted). 
Since the integration of Atlas Elektronik in 2017, tkMS is also active in the design and production of naval 
equipment and systems.
	
 thyssenkrupp, which wanted to divest its naval branch, floated 49% of tkMS’ shares on the stock market in 
October 2025. The division, which could thus finance acquisitions, began discussions in November 2025 to 
acquire the German Naval Yards shipyard in Kiel, owned by the French group CMN Naval.
Home market
	
 tkMS generated 26% of its revenues in its domestic market in 2023-2024. The division is notably in charge 
of the German Navy’s future F127 air defence frigate programme, in partnership with NVL Group. Based on 
tkMS’ MEKO A-400 AMD frigate, the ships will be equipped with Lockheed Martin’s Aegis combat system and 
Raytheon’s (RTX) SPY-6 radar. Six to eight frigates are planned, with the first unit expected to enter service in 
2034.
	
 As part of the 212CD programme, Germany ordered four additional diesel-electric submarines in December 
2024 (bringing the total to six units) for nearly €5 billion. Norway, which has ordered four submarines, may also 
acquire two additional units. Deliveries are scheduled to begin in 2029 for Norway and in 2032 for Germany.
	
 In June 2025, Germany’s Federal Office of Bundeswehr Equipment (BAAINBw) awarded tkMS a contract 
worth more than €800 million for the maintenance of six U212A submarines for 10 years and the modernisation 
of the four oldest units (weapon, navigation and command systems), which entered service between 2005 
and 2007.
	
 In October 2025, the BAAINBw notified a contract to upgrade the sonars of the German Navy’s Frankenthal-
class (Type 332) mine-hunting vessels. tkMS will supply its HMS-12M hull-mounted sonar to replace the Atlas 
Elektronik DSQS-11M sonars.
Export markets
	
 In January 2025, tkMS was selected over Navantia for the Indian P-75I programme, worth €5.5 billion, to 
procure six submarines. Based on tkMS’ Type 214 and Type 212CD submarines, the submarines will be built 
in India in partnership with Mazagon Dock Shipbuilders.
	
 tkMS and Fincantieri partnered in April 2025 to offer two U212 NFS submarines to the Philippines, along with 
related services (training, logistical support, etc.).
	
 In May 2025, tkMS received an order from the Defence Science and Technology Agency (DSTA) of Singapore 
for the construction of two additional Type 218SG submarines, which will be produced in Germany. Of the 
first four submarines in the class, two are in service and two are under construction and scheduled to enter 
service in 2028.
	
 In August 2025, Canada shortlisted tkMS and South Korea’s Hanwha Ocean for the Canadian Patrol Submarine 
Project (CPSP), which aims to acquire up to 12 submarines for an estimated €37 billion. Also in the running, 
Naval Group (Blacksword Barracuda), Navantia (S-80 Plus) and Saab (A26) were not selected.
	
 In September 2025, the Danish Defence Acquisition and Logistics Organisation (DALO) selected Atlas 
Elektronik’s towed sonars (over Thales) for the modernisation of the Royal Danish Navy’s two Absalon-class 
frigates.
	
 However, in November 2025, Argentina selected Naval Group (Scorpène Evolved) over tkMS (Type 209 NG) 
for a potential procurement programme for three submarines, worth an estimated €2.3 billion.
STRATEGIC HIGHLIGHTS