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Canada to award $20B submarine contract to one foreign firm, choosing between Germany’s TKMS and South Korea’s Hanwha Oceans.
Canada’s defence procurement secretary, Stephen Fuhr, confirmed on March 5, 2026, that the government will award the $20 billion submarine contract to a single foreign company, rejecting reports of a split deal.
Germany’s TKMS and South Korea’s Hanwha Oceans submitted final proposals for up to 12 new submarines, both participating in a major Ottawa defence conference.
Fuhr praised the accelerated procurement process, and Navy commander Vice-Admiral Angus Topshee supported the decision, citing operational efficiency and fleet uniformity.
The final choice is pending a thorough review.
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Canadá otorgará un contrato de submarinos de $ 20B a una empresa extranjera, eligiendo entre TKMS de Alemania y Hanwha Oceans de Corea del Sur.