Taiwan Submarine 'Hai Kun' Set for Delivery; TSBC Eyes Unmanned Vessels and Shipbuilding Growth

Taiwan Shipbuilding Company (TSBC) is poised for a strong year, with its first indigenous submarine, the Hai Kun-class prototype, scheduled for delivery in 2024. This milestone is part of TSBC's strategic focus on core shipbuilding and naval projects, bolstering its position in the defense sector.

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We expect the global shipbuilding market to show moderate growth.

TSBC's order book is robust, with existing contracts extending delivery schedules to 2031. The company is actively seeking new defense business, particularly in response to the government's proposed "National Defense Autonomous Unmanned Vehicle Procurement Special Statute," which allocates NT$210 billion for unmanned systems. TSBC aims to secure contracts for various unmanned platforms, including surface vessels and drones.

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The Ministry of National Defense plans to procure seven types of weapons, including artillery, missiles, unmanned vehicles and countermeasure systems.

Beyond submarines and drones, TSBC is also involved in the Coast Guard's nine-year "Maritime Rights Protection Coast Guard Vessel Construction Plan," which will see the construction of patrol boats of various sizes. The company has also developed its own unmanned surface vessel, the "Brave Swordfish," demonstrating its capabilities in autonomous maritime technology. With a clear focus on shipbuilding, naval construction, and heavy machinery, TSBC anticipates continued growth and a promising operational outlook.

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TSBC's current order book extends delivery schedules to 2031, ensuring short-term business stability.