Austal Wins A$136m Contract for Additional Patrol Boats for Australian Border Force

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

Austal Limited has secured a A$136 million contract extension to build two additional Evolved Cape-class Patrol Boats for the Australian Border Force, raising the total number of these vessels ordered for the agency to six. The deal follows delivery of the tenth Evolved Cape-class vessel to the Royal Australian Navy and adds to Austal’s record order book of more than A$17.7 billion.

The new boats, the fifteenth and sixteenth Evolved Cape-class vessels ordered by the Commonwealth since 2020, will be built at Austal’s Henderson shipyard in Western Australia and supported by a national supply chain. The award underscores ongoing confidence in the platform and in Australia’s sovereign shipbuilding capability, while contributing A$500–700 million annually to Austal’s order pipeline and reinforcing its role in delivering border protection and national security assets.

The Evolved Cape-class design features expanded accommodation for up to 32 personnel, improved quality-of-life systems, and advanced sustainment technologies to maximise availability for border protection, fisheries enforcement, and wider security missions. Austal will continue to provide in-service support for both Cape-class and Evolved Cape-class fleets across facilities in Western Australia, Queensland, and the Northern Territory, alongside near-completion of the Guardian-class Patrol Boat program for Pacific partners.

The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.90 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 specializing in the design, construction, and sustainment of patrol boats and other naval and border protection vessels for domestic and international customers. The company operates major shipyards, including its Henderson facility in Western Australia, and supports a sovereign shipbuilding capability focused on defence, border security, and related maritime missions.

Austal’s portfolio includes Cape-class and Evolved Cape-class patrol boats, Guardian-class patrol boats, and landing craft for the Australian Defence Force and overseas clients. It also provides in-service support and works on defence programs in Australia and the United States, contributing to a substantial multi-billion-dollar order book and reinforcing its position in the naval shipbuilding supply chain.

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