ThyssenKrupp Marine Systems (TKMS): Soaring Submarine Orders and Record Order Book
Naval shipbuilder Naval Group experiences high demand with an unprecedented number of orders on hand - Submarine construction company TKMS Reaches New Heights with Exceptional Order Volume
TKMS, the marine shipbuilding powerhouse based in Kiel, has achieved a record-breaking order backlog surpassing 16 billion euros, according to CEO Oliver Burkhard. The shipyard secured substantial orders worth roughly 5.6 billion euros in just half of the current financial year, marking a significant increase compared to the same period last year.
Southeast Asian Expansion
Singapore signed a contract with TKMS in May, adding two more 70-meter submarines to be built in Northern Germany. With this partnership, TKMS's order book now sits at around 18 billion euros, with construction set to occur at the TKMS's Wismar shipyard, not the Kiel parent site.
Germany's Middle class Naval Fleet
The German Navy is looking to acquire four more modern Type 212CD submarines, with an order volume of 4.7 billion euros. Norway has also shown interest in increasing its submarine fleet, placing TKMS in a prime position to capitalize on these potential opportunities.
In addition, TKMS won the contract to build the "Polarstern" research icebreaker for the Alfred Wegener Institute in Bremerhaven and is bidding for a potential submarine order from Canada.
Financial Success
First-half revenue for TKMS reached over 1.1 billion euros, representing a notable increase compared to the same period last year. The adjusted operating profit before interest and taxes (EBIT) increased to 62 million euros in the first half of the 2024/25 financial year, up from 42 million euros in the same period a year ago.
A Global Leader in Marine Industry
Employing around 8,000 people across three shipyards in Kiel, Wismar, and Itajaí (Brazil), as well as at various global locations, TKMS is a prominent player in the marine industry.
- Record level
- Shipyard
- Shipbuilding
- Order book
- ThyssenKrupp
- Oliver Burkhard
- Singapore
- Submarines
- Wismar
- Germany
- CEO
Key Insights
- TKMS's order book of around €16 billion is a testament to the positive market development in the marine sector.
- TKMS's ability to manage its production effectively enables it to meet growing demand and handle orders, such as the recent extension for Singapore within existing capacities.
- The Type 218SG submarines, designed with advanced air-independent propulsion systems, enhance the vessels' underwater capabilities and minimize their signatures.
- TKMS's significant contracts and strong position in the global naval shipbuilding market contribute to its long-term growth prospects, as reflected in its diversified portfolio.
[1] Bundesverteidigungsministerium (2024). "Bundestag setzt Neubau von vier U212CD-U-Booten der Deutschen Marine frei." [Press Release][2] Singapurischer Verteidigungsministerium (2025). "Singapore orders two more Type 218SG submarines from ThyssenKrupp Marine Systems." [Press Release][5] TKMS (n.d.). "Type 218SG Submarine." Retrieved from https://www.thyssenkrupp-marine-systems.com/de/produkte/klasse/typ-218sg
- The record-breaking order book of €18 billion at ThyssenKrupp Marine Systems' (TKMS) shipyard in Wismar, as a result of the recent contract with Singapore for two 70-meter submarines, signifies the positive market development in the marine industry.
- TKMS, a global leader in the marine industry, manages its production effectively, enabling it to meet growing demand and handle orders such as the recent extension for Singapore within existing capacities, reinforcing their position in the global naval shipbuilding market.
