TKMS and Navantia aim to finalize industrial partnership by end of 2026 (opex360.com)

• TKMS and Navantia signed a second MoU on July 24, 2026, aiming for a joint framework by end of 2026.
• No equity tie-up; focuses on production capacity and delivery times.
• Navantia faces a submarine order gap after 2027; TKMS has large orders from Canada, Norway, Germany, and India.

"German shipbuilder TKMS and Spanish Navantia agreed on July 24 to establish a joint collaboration framework by year-end 2026. The partnership, pending regulatory approvals, aims to boost production capacity, reduce delivery times, and enhance competitiveness without equity ties. Navantia faces a gap in submarine orders after 2027, while TKMS has a full order book."