Stock Markets June 29, 2026 07:54 AM

Saab Secures SEK 47 Billion Contract to Build Three A26 Submarines for Poland

Swedish firm to deliver stealth-capable A26 boats with weapons, training and local maintenance support; final delivery set for 2038

By Maya Rios
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Saab has inked an agreement with the Polish State Treasury Armaments Agency to produce and deliver three A26-class submarines. Valued at about SEK 47 billion ($4.83 billion), the package includes weapons systems, training support and plans to develop maintenance, repair and overhaul capabilities in Poland. Deliveries will be staged, with the last submarine scheduled for handover in 2038. Poland will temporarily operate the Swedish submarine HMS Södermanland under a separate arrangement.

Saab Secures SEK 47 Billion Contract to Build Three A26 Submarines for Poland
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Key Points

  • Saab signed a contract with the Polish State Treasury Armaments Agency for three A26-type submarines valued at about SEK 47 billion ($4.83 billion) - impacts the defence and shipbuilding sectors.
  • Deliveries of the submarines will be staggered, with the final handover planned for 2038 - affects defence procurement timelines and naval operational planning.
  • Saab will develop maintenance, repair and overhaul capabilities in Poland through collaboration with Polish industry; Poland will also operate HMS Södermanland as a temporary measure - relevant to domestic defence industry development and naval readiness.

Saab signed a contract with the Polish State Treasury Armaments Agency on Monday for the manufacture and delivery of three A26-type submarines, a deal valued at roughly SEK 47 billion, equivalent to $4.83 billion. The agreement covers not only the submarines themselves but also weapons systems and training support packages.

The deliveries will be phased over time, with the final vessel due to be handed over in 2038. Saab said the A26 design has been developed to meet the demanding operating environment of the Baltic Sea, with an emphasis on silent operation and remaining undetected during missions. The submarines will also be equipped to perform intelligence, surveillance and reconnaissance functions in support of naval operations.

"We are deeply honoured that Poland has chosen Saab’s submarines to bolster its defence capabilities and strengthen the strategic partnership between our two nations. The three A26 submarines meet Poland’s current and future defence requirements and will play a pivotal role in enhancing security in the Baltic Sea region," said Micael Johansson, President and CEO of Saab.

As part of the contract, Saab will work with Polish industry to establish maintenance, repair and overhaul capabilities in Poland to support the new vessels and the Polish Navy’s submarine operations. The agreement points to an intent to develop local sustainment capacity rather than relying solely on external support.

In addition to the new-build program, Poland will operate the Swedish submarine HMS Södermanland as a gap filler under a separate agreement between the two countries. That arrangement is intended to provide interim submarine capability while the A26 boats are constructed and delivered.


The contract represents a major procurement for the Polish Navy focused on enhancing undersea stealth and reconnaissance capabilities in the Baltic Sea. Saab will manage deliveries and provide associated weapons and training support, while cooperating with Polish partners to establish domestic support infrastructure.

Risks

  • Extended delivery schedule to 2038 introduces schedule and execution risk for the defence procurement - impacts naval operations and defence contractors.
  • Establishing maintenance, repair and overhaul capabilities in Poland depends on successful collaboration with local industry, creating implementation and industrial integration uncertainty - affects the shipbuilding and defence supply chain.
  • Reliance on the separate interim arrangement to operate HMS Södermanland highlights a temporary capability gap until the A26 boats are delivered - relates to naval readiness and short-term operational planning.

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