Hanwha Group & ThyssenKrupp — TKMS
4 shared events · Importance 4 · Last updated Jul 20, 2026
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Hanwha Group is a direct competitor to ThyssenKrupp Marine Systems in the global naval defense market through its shipbuilding subsidiary. The conglomerate recently engaged in a high-profile bidding war against TKMS for the Canadian Patrol Submarine Project, which Hanwha ultimately lost.
International
Hanwha Group: Lost the bid despite extensive marketing and partnerships; may seek other opportunities but faces a setback in Canadian market.
ThyssenKrupp — TKMS: TKMS wins a landmark contract to build up to 12 submarines for Canada, boosting its order book and reinforcing its position as a leading non-nuclear submarine builder.
Jul 06, 2026 · 54 articles
International
Hanwha Group: Lost submarine bid to TKMS, but Canada seeks to deepen cooperation on AI and technology.
ThyssenKrupp — TKMS: Selected as preferred bidder for Canada's submarine fleet, securing a major contract.
Jul 08, 2026 · 6 articles
Business
Hanwha Group: Hanwha Group, a rival bidder for the Canadian submarine contract, has ties to Babcock International Group — Babcock Canada but lost the preferred bidder status to TKMS.
ThyssenKrupp — TKMS: TKMS is the preferred bidder to supply up to four Type 212CD submarines to Canada, with negotiations expected by end of 2027.
Jul 20, 2026 · 6 articles
International
Hanwha Group: Hanwha Ocean lost the Canadian submarine contract to TKMS but remained a reserve bidder.
ThyssenKrupp — TKMS: Selected by Canada to build new submarine fleet, a multi-billion-dollar contract.
Apr 20, 2026 · 317 articles
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