German naval shipbuilder TKMS announced that it continued its successful development of the SeaSpider anti-torpedo weapon in the last quarter of 2026. As TKMS CEO Oliver Burkhard stated during a conference call with journalists, successful test firings of the weapon, which is intended to protect ships from incoming torpedoes, took place during this period.
Lars Hoffmann / Hartpunkt
As the presentation shown during the conference revealed, the SeaSpider’s capabilities in navigation, stabilization, and rocket propulsion were tested. Burkhard anticipates “strong demand” for the product in the future. However, he cautioned that it has not yet been sold. Reportedly, TKMS intends to develop the innovative technology to market readiness by 2029. The German and Dutch navies are considered potential customers. The Dutch Ministry of Defence began its budget planning last year. The rocket propulsion system for the SeaSpider is apparently to be manufactured in Canada.
Canada is also considered a potential customer for seven to twelve new submarines for its navy. However, TKMS faces stiff competition from the South Korean Hanwha Group. Besides Hanwha, several other Korean companies have already announced investments in Canada should Ottawa opt for South Korean-built submarines. Just at the end of last month, Hanwha and the Canadian company MDA Space signed a memorandum of understanding to explore the use of the Canadian company’s satellites for South Korea’s future military satellite constellation.
Burkhard emphasized that Germany and Norway are collaborating on the bid for the Canadian armed forces. Both countries want to secure Canada as a partner for the Type 212CD submarines. According to him, his company will submit a bid in the spring. He expects a decision on who will be awarded the contract by the end of the fiscal year.
As the TKMS CEO explained, his company is still in talks with German Naval Yards about a potential acquisition based on a non-binding offer. The manager would like to enter into more in-depth discussions in the coming weeks as part of a due diligence process, should German Naval Yards express interest.
The steelmaking for the MEKO A-200 DEU class frigates, intended as a bridging solution for the delayed F126 frigates, has already begun following the signing of the preliminary contract, said Burkhard. TKMS plans to build the ships in partnership with the Rönner Group from Bremerhaven. This collaboration has already proven successful in the delivery of MEKO frigates to Egypt after approximately three years of construction.
For the first quarter of fiscal year 2025/26 – the past months of October, November, and December – TKMS reports continued positive order momentum and stable development in both revenue and adjusted EBIT. According to the company, TKMS had a solid order intake with new orders worth €904 million, including the largest torpedo order in the group’s history for the German Navy. The order backlog thus reached a new record level of approximately €18.7 billion. Revenue remained stable at €545 million, 1 percent below the same quarter of the previous year.
TKMS has raised its revenue forecast for fiscal year 2025/26. It now expects revenue growth of +2 percent to +5 percent compared to the previous year (previously: -1 percent to +2 percent) and an increase in the adjusted EBIT margin to over 6 percent.
This article by Lars Hoffman was originally published in German language at Hartpunkt.de. It has been translated and republished with authorization.
