Kongsberg Maritime Acquires Steerprop to Strengthen Arctic Propulsion and Ice-Class Vessel Technology
Kongsberg Maritime has agreed to acquire Finnish maritime technology company Steerprop, strengthening its position in Arctic propulsion, ice-class vessels, and advanced marine propulsion systems. The acquisition was announced on September 9, 2026, and will combine Steerprop’s specialized expertise in azimuth propulsion systems with Kongsberg Maritime’s global organization and integrated maritime solutions.
Steerprop designs and manufactures azimuth propulsion systems for high ice-class and Arctic vessels. Its systems are installed on more than 400 vessels worldwide, including icebreakers, polar research ships, and offshore support vessels. The Finnish company also has a significant order backlog, with most of its projects connected to Arctic and ice-class applications.
Kongsberg Maritime Expands Arctic Propulsion Portfolio
The planned acquisition will bring together Steerprop’s specialized Arctic propulsion expertise and Kongsberg Maritime’s established global capabilities.
Kongsberg Maritime has a global organization, a lifecycle services network, systems integration capabilities, and significant operational scale. By combining these capabilities with Steerprop’s propulsion technology and experience, the companies are expected to strengthen their position in an important segment of the maritime industry.
Steerprop has built a leading position in Arctic propulsion technology, with its systems already operating across a large international fleet. The more than 400 vessels equipped with Steerprop systems include specialized vessels designed for demanding operations, such as icebreakers and polar research ships, as well as offshore support vessels.
The company’s existing order backlog is also significant, with most of the backlog connected to Arctic and ice-class projects.
For Kongsberg Maritime, the acquisition provides an opportunity to combine this specialized technology and market position with its broader organization, lifecycle services, and systems integration capabilities.
Growing Focus on Arctic and Ice-Class Projects
The acquisition is expected to strengthen Kongsberg Maritime’s position in a market driven by fleet renewal programs, polar research investments, and growing activity in Arctic regions.
These areas are identified as important drivers for the segment in which Steerprop operates. The company’s established portfolio of azimuth propulsion systems and its involvement in Arctic and ice-class projects provide a specialized foundation for the combined business.
Steerprop’s technology is already used across vessels with different operational requirements. Its systems are installed on icebreakers, polar research ships, and offshore support vessels, giving the company an established presence among customers operating specialized vessels.
The combination with Kongsberg Maritime is intended to build on this position while bringing Steerprop’s capabilities together with Kongsberg Maritime’s global reach and integrated solutions portfolio.
Kongsberg Maritime Highlights Complementary Strengths
Lisa Edvardsen Haugan, CEO of Kongsberg Maritime, described the acquisition as a strategic step in a growing market segment.
She noted that the complementary strengths of the two companies would create additional value for customers. The combination brings together Steerprop’s specialized Arctic propulsion expertise and Kongsberg Maritime’s broader capabilities.
The acquisition therefore represents a move to combine the strengths of two companies operating in complementary areas of the maritime technology market.
Kongsberg Maritime’s global organization and lifecycle services network will be combined with Steerprop’s specialized propulsion technology and established customer relationships once the transaction is completed.
Steerprop Technology and Customer Relationships
Ville Rimpilä, Senior Vice President for Thruster Systems at Kongsberg Maritime, pointed to Steerprop’s strong technology, customer relationships, and market leadership as important assets.
Rimpilä said these strengths, combined with Kongsberg Maritime’s global reach and integrated solutions portfolio, would create a compelling position in a strategically important market.
Steerprop’s established position in the Arctic propulsion segment is supported by its systems being installed on more than 400 vessels globally. Its portfolio includes propulsion systems used by icebreakers, polar research ships, and offshore support vessels.
The company’s significant order backlog, particularly its concentration on Arctic and ice-class projects, is another important part of its existing market position.
Existing Projects and Deliveries to Continue
Until the transaction is completed, Kongsberg Maritime and Steerprop will continue to operate independently.
The companies have confirmed that existing projects, deliveries, and contractual commitments will remain unchanged throughout the process.
This means current projects and contractual arrangements will continue as planned while the transaction progresses. Customer continuity will remain the highest priority during the process.
The independent operation of both companies until completion is intended to ensure continuity for existing customers and ongoing projects.
Acquisition Strengthens Specialized Maritime Technology Position
The planned acquisition brings together two complementary strengths within the maritime technology sector.
Steerprop contributes specialized expertise in azimuth propulsion systems for high ice-class and Arctic vessels, along with a substantial installed base of more than 400 vessels worldwide. Its experience covers icebreakers, polar research ships, and offshore support vessels, while its order backlog is largely associated with Arctic and ice-class projects.
Kongsberg Maritime contributes its global organization, lifecycle services network, systems integration capabilities, and scale.
Together, these capabilities are expected to strengthen Kongsberg Maritime’s position in the Arctic propulsion segment and support its activities in a market associated with fleet renewal, polar research investment, and growing activity in Arctic regions.
The acquisition also highlights the importance of specialized marine propulsion systems and ice-class vessel technology within the companies’ portfolios.
For customers, the companies have emphasized continuity during the transaction. Existing projects, deliveries, and contractual commitments will remain unchanged, while both businesses continue to operate independently until completion.
Once the transaction is completed, the combination will bring Steerprop’s specialized Arctic propulsion capabilities together with Kongsberg Maritime’s global reach and integrated solutions portfolio.
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