Two New Naval Projects – How Realistic Are They?
By Jeff Gilmour, 7 August 2026
Under the 2010 National Shipbuilding Strategy (NSS), Irving Shipyard was awarded a contract by the federal government to build 15 River-class destroyers to replace the RCN’s ageing frigates. They will be equipped with advanced radar systems and missile capabilities in one of the country’s most significant military manufacturing programs. The keel-laying ceremony for the first ship of its class, HMCS Fraser, happened on 12 June 2026.[1]
In 2022, the Parliamentary Budget Officer (PBO) estimated the cost of this project to be $84 billion. In March 2025, the Canadian government purchased three River-class destroyers from Irving for an estimated $8 billion implementation contract covering the cost for the first six years of construction. The total project cost for the first three ships is estimated to be $22 billion (excluding taxes).[2]
The first ship is scheduled to be launched in the 2030s with nine expected to be in service by 2040 and the entire fleet sometime by 2050.[3] Based on the contract price for the first three ships, is it not reasonable to assume that the cost of this project could escalate to $110B before all 15 ships are built?
In early July 2026 the federal government announced that it would begin discussions to purchase 12 submarines from Thyssen-Krupp Marine Systems (TKMS) of Germany under the Canadian Patrol Submarine Project (CPSP). The initial acquisition and design phase is estimated around $24B. But adding maintenance, lifecycle support and specialized infrastructure means that the total program cost is projected to exceed $70B to $100B. The formal contracting is scheduled to be completed by the end of 2027, with the first four boats to be delivered at the beginning of 2034.
Post continues on the Broadsides Forum
Trending now:
- Two New Naval Projects – How Realistic Are They?
- Strategy for Submarines?
- Davie and Davie Autonomous Inc
- The F-35 Aircraft Delay - Why?
- CNR sponsors: visit page
Current Issue: Vol. 22 No. 1 (2026)
As usual, the issue contains a smorgasbord of material, with something for everyone. Our first article takes us to China and outlines how it has become a shipbuilding powerhouse.
The second article discusses Canada’s participation in the Gulf War, as we reach the 35th anniversary of the conflict.
The third article argues that RCN veterans should be seen as strategic assets and treated and trained as such. The final essay outlines some of the defence capabilities that are being ordered/built, particularly relating to the Arctic, even in the absence of a new defence policy to provide strategic direction.
And, of course, we have our usual Making Waves commentaries. In response to enthusiastic discussion on Broadsides (our online discussion forum), we have a commentary about whether geography is destiny for Canada – i.e., as a small (in terms of population) country next door to the United States, does Canada have options for defence? There’s a commentary asking if naval art is dead, a commentary about naval capabilities for the Arctic, and a commentary about how the RCN can make the navy more visible to Canadians.
And, of course, we have our regular columns. “A View from the West” looks at whether China is indeed capable of/intending to invade Taiwan in 2027. “Dollars and Sense” examines the Defence Industrial Strategy, and “Warship Developments” updates us on recent naval developments.
Naturally, we have our usual amazing photos!
The spring issue will be in the mailbox of people who are lucky enough to be subscribers! It’s not too late for you to subscribe. See here for the Table of Contents.
CNR resources
- CNR Archives
- Subject Index for CNR Articles
- Broadsides Forum - Join the Discussion
- Submissions to Canadian Naval Review
- Subscriptions - unlock access to all CNR materials
- Sponsor page
- Free CNR articles and PDF downloads
- Follow us on Bluesky and LinkedIn
- Donate to CNR
- Special offer
Read more: CNR Archives (75 magazines in PDF) and Subject Index
Looking for Books about Maritime Matters?
Over the last 20 years, Canadian Naval Review has published over 200 book reviews. These books cover a variety of topics but they all relate to maritime matters, history, or security and defence at sea. This is an amazing resource. Go through the list of reviews, pick out a few books that look interesting, read the reviews, and then order the books from your nearest bookstore or from the publisher. See the list of book reviews at https://www.navalreview.ca/book-reviews/