Finance
Submarine maker TKMS hits record $22 billion order backlog, raises sales outlook
Published by Global Banking & Finance Review®
Posted on February 11, 2026
2 min readLast updated: February 11, 2026
Quick Summary
German submarine maker TKMS has raised its sales outlook and hit a new high in order backlog, driven by increased demand for warships amid rising geopolitical tensions.
TKMS Achieves Record $22 Billion Order Backlog and Boosts Sales Forecast
TKMS's Sales Outlook and Market Position
FRANKFURT, Feb 11 (Reuters) - TKMS hit a fresh $22 billion high in order backlog and raised its sales outlook, the German submarine maker said on Wednesday, citing a boost in demand for warships at a time of rising geopolitical tensions.
Sales are now expected to rise by 2% to 5% in 2026, from a previous range of minus 1% to up to 2%, said the company, which was spun off from Thyssenkrupp last year.
This compares with an average forecast of 2.9% in an LSEG poll of banks and brokerages.
Geopolitical Factors Driving Demand
"In view of current geopolitical developments, our customers continue to show a high demand for advanced maritime capabilities," CEO Oliver Burkhard said.
"As the only fully integrated maritime systems supplier in Europe, we are ideally positioned to meet the needs in all dimensions of our industry."
Investor Interest in Defense Sector
Like many of its peers, TKMS has been riding a surge in investor demand for shares in arms and weapon-makers, triggered by the war in Ukraine as well as U.S. pressure on Europe to step up its defense capabilities.
($1 = 0.8391 euros)
(Reporting by Christoph Steitz in Frankfurt; Editing by Matthew Lewis and Ludwig Burger)
Key Takeaways
- •TKMS raises its sales outlook due to increased demand.
- •The order backlog for TKMS has hit a new high.
- •Sales are expected to rise by 2% to 5%.
- •Geopolitical tensions are driving warship demand.
- •The previous sales forecast was between -1% to 2%.
Frequently Asked Questions about Submarine maker TKMS hits record $22 billion order backlog, raises sales outlook
1What is an order backlog?
An order backlog is a list of orders that have been received but not yet fulfilled. It indicates the demand for a company's products and can reflect its capacity to deliver.
2What are warships?
Warships are naval ships that are equipped for combat. They are used by a country's navy to protect its interests and maintain security at sea.
