Canada has shortlisted Germany’s Thyssenkrupp Marine Systems and South Korea’s Hanwha Ocean as finalists to build up to 12 new diesel-electric submarines for the Royal Canadian Navy.
The Patrol Submarine Project will replace the Victoria-class fleet, acquired secondhand from the UK in the late 1990s and expected to retire in the mid-2030s.
Valued at up to 43 billion Canadian dollars ($31.1 billion) over its life cycle, the program requires delivery of the first submarine no later than 2035.
Launched in September 2024, the competition received 25 proposals worldwide, with only Thyssenkrupp and Hanwha meeting Canada’s standards for endurance, stealth, and Arctic operations.
