Kongsberg Maritime to Acquire Steerprop, Adding Arctic Propulsion Specialist in Second Deal in 57 Days
🔔 Subscribe to ShipUniverse Weekly →
Kongsberg Maritime has agreed to acquire Finnish propulsion specialist Steerprop, adding one of the strongest independent suppliers of high ice-class azimuth propulsion to its portfolio. Steerprop has equipment aboard more than 400 vessels, has delivered more than 900 propulsion units, and says its technology is installed on one in three icebreakers worldwide using azimuth propulsion. Most of its current order backlog is tied to Arctic and ice-class projects. The purchase price has not been disclosed and the transaction still requires regulatory approvals. The deal comes only 57 days after Kongsberg agreed to acquire Berg Propulsion, pointing to a rapid expansion of Kongsberg's propulsion business across both specialized and higher-volume vessel markets.
Market Impact Snapshot
Kongsberg gains an established icebreaker specialist
Steerprop says its azimuth technology is installed on one in three icebreakers worldwide using this propulsion approach. Its current backlog is weighted heavily toward Arctic and high ice-class projects.
The deal brings more than just future newbuild orders
Steerprop equipment is installed aboard more than 400 vessels and the company has delivered more than 900 propulsion units over 25 years. That creates an additional installed base for spares, service, condition monitoring and lifecycle support.
Steerprop fills a particularly difficult propulsion niche
Its Arctic azimuth units are available up to 12 MW for the most demanding polar classes, while its contra-rotating propulsion family reaches as high as 16 MW depending on configuration and application.
The service network may be as important as the hardware
Kongsberg can connect Steerprop's installed fleet to its global support network while adding energy, automation, control and other onboard systems to future propulsion packages.
This is an acquisition agreement, not a completed transaction
Steerprop and Kongsberg Maritime will continue operating independently until closing. Regulatory approvals and other customary conditions are still required, and the purchase price has not been published.
Steerprop Adds a Different Layer to Kongsberg's Thruster Business
The acquisition adds specialized ice-class propulsion, contra-rotating technology and several major government fleet-renewal programs.
| Technology / Program | Published Capability | Current Example | Vessel Segment | Strategic Addition for Kongsberg |
|---|---|---|---|---|
| ARC / PULL ARC | Selected Arctic units up to 12 MW for demanding polar classes | New Polarstern: 2 × 9 MW SP 160 PULL ARC | ICEBREAKERS | Heavy mechanical azimuth propulsion for high ice-class missions. |
| CRP / CRP ECO | Contra-rotating push-pull system, up to approximately 16 MW depending on model | Four U.S. Coast Guard Arctic Security Cutters | ARCTIC / COAST GUARD | High thrust, manoeuvrability and efficiency from dual contra-rotating propellers. |
| Canadian MPV Program | PC4 packages with two CRP main units and two ice-class tunnel thrusters per vessel | Initial six Canadian Coast Guard Multi-Purpose Vessels | GOVERNMENT | Multi-vessel Arctic fleet renewal and long-duration service opportunity. |
| Arctic Tunnel Thrusters | Gridless designs engineered for severe ice operation | Canadian Polar Icebreaker and new Polarstern | POLAR | Adds specialized manoeuvring capability beyond main propulsion. |
| Steerprop W | Approximately 0.9-7 MW modular azimuth range | Offshore, tugs, anchor handlers and specialized workboats | OFFSHORE | Extends the acquisition beyond the Arctic market into DP-intensive vessels. |
| Retractable Thrusters | SP 45 R available up to approximately 4 MW | Offshore and renewable-energy vessels | DP / RENEWABLES | Adds station-keeping and auxiliary propulsion options for advanced vessels. |
| Steerprop Care | Integrated condition monitoring included with propulsion-unit deliveries | Installed fleet and future deliveries | AFTERMARKET | Fits directly with Kongsberg's lifecycle-service and digital strategy. |
Roughly €160 million of 2025 revenue. Strong presence in commercial volume segments including general cargo and product tankers. Planned as a separate Kongsberg business unit.
Approximately €39 million of 2025 revenue with a highly specialized Arctic and high ice-class portfolio. Kongsberg plans phased full integration following completion.
Installed Fleet & Propulsion Aftermarket Opportunity Calculator
Estimate the annual lifecycle-service and cross-selling opportunity that can sit behind an installed propulsion fleet such as Steerprop's.
Modeled Revenue Opportunity
Routine lifecycle service, major overhauls and onboard-system cross-selling under the entered assumptions.
We welcome your feedback, suggestions, corrections, and ideas for enhancements.
Please click here to get in touch