Thyssenkrupp Marine Systems reports record orders amid submarine demand

Thyssenkrupp Marine Systems (TKMS) has reported significant financial growth, driven by increased demand for naval technology. The company’s submarine segment saw its adjusted EBIT quadruple to 46 million euros. Total revenue for the nine-month period rose by 19 percent to 1.9 billion euros, while the order backlog reached a record 20.1 billion euros.

TKMS is currently a finalist for major international submarine projects. In Canada, the company is one of two final bidders for a contract to supply up to twelve patrol submarines using the Type 212CD model. Simultaneously, in India, a contract for six submarines under Project P-75I, valued at approximately 6.4 billion euros, is nearing final approval by the security committee.

CEO Oliver Burkhard has raised the annual growth forecast to between 10 and 12 percent. The company attributes much of this momentum to increased maritime budgets among NATO members and a high demand for conventional submarines equipped with fuel cell technology, which allows for extended underwater endurance.