Shipbuilder Meyer Werft assessing design and assembly strategies for destroyers
The Meyer Werft shipyard in Papenburg, secured by federal and state governments' aid, is contemplating a venture into the defense sector. As per Ralf Schmitz, the CEO and restructuring expert of the company, Meyer is currently analyzing its potential role in the so-called 'grey market' or military sector, in collaboration with a strategic consultant (Handelsblatt, Friday edition).
The company, primarily known for its cruise ship construction, already collaborates with Lürssen shipyard on naval supply ships. Schmitz hinted at a possible focus on defense, stating that Meyer could potentially construct four to five frigates in series, a feat unparalleled in Germany. One advantage they anticipate is the usage of covered docks, which would shield naval vessels from potential threats posed by enemy drones and satellites.
However, the company lacks expertise in defense technology such as radar and weapon systems. Schmitz acknowledged this obstacle, suggesting that partnerships or acquisitions would be necessary to address this issue, a challenge in the tight market with established providers.
To succeed in the defense sector, Meyer Werft might need to collaborate with established defense contractors, invest in workforce development, or focus on niche areas to differentiate itself and overcome regulatory, competition, and investment-related hurdles.
[Source: dts news agency]
Meyer Werft, venturing into the defense sector, is considering partnerships or acquisitions within the industry to overcome their lack of expertise in defense technology. The company hopes to focus on niche areas in the aerospace and finance sectors, as they explore the construction of frigates for the 'grey market.'
