Austal Wins $4 Billion Landing Craft Contract, Cementing Role as Australia’s Sovereign Shipbuilder

Austal ( (AU:ASB) ) just unveiled an update.

Austal Defence Australia has secured an approximately $4 billion contract from the Australian Government to build eight 100-metre Landing Craft Heavy vessels at its Henderson facilities in Western Australia, with construction starting in 2026 and final delivery expected in 2038. The award, made under the Strategic Shipbuilding Agreement, cements Austal’s role as a key sovereign shipbuilder, creates thousands of skilled jobs, strengthens its local supply chain, and provides a record 12-year order pipeline that balances its traditionally U.S.-weighted defence revenue.

The new Landing Craft Heavy vessels, based on the Damen LST100 design, will deliver critical amphibious, logistics, humanitarian and disaster relief capability for the Australian Defence Force across the region. Together with the earlier Landing Craft Medium program, the contract underpins decades of continuous naval shipbuilding in Western Australia, enhances industrial capability at Henderson, and offers significant opportunities for domestic suppliers and workers while complementing Austal USA’s ongoing construction of smaller landing craft for the U.S. Navy.

The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.

More about Austal

Austal Limited is an Australian shipbuilder focused on defence and commercial vessels, with key operations in Australia and the United States. Through its Austal Defence Australia unit, the company serves as a sovereign shipbuilder to the Commonwealth of Australia, while Austal USA builds vessels for the U.S. Navy, giving the group a geographically diversified defence order book.

Average Trading Volume: 1,477,244

Technical Sentiment Signal: Buy

Current Market Cap: A$2.46B

See more data about ASB stock on TipRanks’ Stock Analysis page.