TKMS and Fincantieri have signed an agreement to expand cooperation on submarines and underwater systems, with plans to establish a collaboration framework by the end of 2026.
The memorandum of understanding covers technology exchange, commercial opportunities, and potential international procurement programs.
The companies said they want to combine their capabilities to reduce fragmentation in Europe’s naval industry while pursuing new projects and cost savings.
TKMS is a German shipbuilder focused on naval vessels, with submarines forming a major part of its defense business. Fincantieri, one of Italy’s largest shipbuilders, builds both surface combatants and submarines and has its own underwater systems business.
“This agreement is designed to leverage complementary strengths and expertise to better serve our customers while contributing to the long-term development of Europe’s underwater capabilities,” Fincantieri CEO and Managing Director Pierroberto Folgiero said.
A formal framework is subject to regulatory approvals. TKMS and Fincantieri will continue operating independently, while existing contracts, programs, and projects will remain unaffected.
Europe Boosts Underwater Defense Cooperation
The agreement comes as European countries look for more ways to develop maritime and underwater capabilities together, particularly as concerns grow over threats to submarines, seabed infrastructure, and undersea communications cables.
In July, the European Commission proposed five large-scale European Defence Projects of Common Interest, including one focused specifically on maritime and seabed defense.
The Integrated Maritime and Seabed Defence project involves 17 countries and is intended to improve cooperation in maritime surveillance, naval combat, underwater warfare, and the protection of critical infrastructure such as cables and pipelines.
The project also calls for coordinated development and procurement of naval platforms, underwater systems, unmanned vehicles, intelligence and surveillance tools, and other capabilities. The body estimates the project could involve 42 to 82 billion euros ($48 to $95 billion) until 2045.