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Investing.com -- Thyssenkrupp’s warship division is targeting €61 billion ($71.54 billion) in revenue by 2033, as European nations work to modernize and expand their submarine fleets amid rising tensions with Russia.
The German industrial group plans to list its defense marine business, TKMS, on the Frankfurt Stock Exchange this year, joining other arms manufacturers who have seen significant valuation growth recently.
TKMS, which specializes in submarines, warships, and electronics systems, announced Tuesday that the spinoff company’s revenue could nearly double from the €31 billion reported in fiscal 2024, according to its capital markets day presentation.
Chief Executive Oliver Burkhard stated that TKMS’s market could double in size by 2033 compared to the previous year. This growth projection comes as Europe increases defense spending and seeks to protect critical infrastructure from emerging hybrid warfare threats, including potential damage to undersea cables.
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