TSX:MALAerospace & Defense
Magellan Aerospace (TSX:MAL) Deepens Submarine Role With TKMS Torpedo Deal – Is Its Defence Pivot Durable?
In February 2026, TKMS and Magellan Aerospace Corporation signed a teaming agreement to jointly explore, develop and implement cooperation on heavyweight torpedo production and in-service support for Canada’s future submarine capabilities under the Canadian Patrol Submarine Project.
The agreement also positions Magellan to pursue export opportunities by using TKMS’s international customer base while deepening high-value defence manufacturing capabilities and skilled employment within...