World Business Politics

Canada Picks Germany for Submarine Fleet

Canada Picks Germany for Submarine Fleet

The multibillion-dollar project saw German-Norwegian consortium TKMS beat out South Korea’s Hanwha Ocean.

Canadian officials cited the need for seamless integration with NATO allies as a key factor.

The deal is part of Canada’s effort to meet the alliance’s defence spending targets amid pressure from Washington.

South Korea’s loss highlighted the challenges its defence industry faces in penetrating NATO markets.

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Canada
Country in North America
Germany
Country in Central Europe
TKMS
German naval vessel company
NATO
Intergovernmental military alliance between 32 member states
Submarine
Watercraft capable of independent operation underwater