Austal wins A$4bn contract for eight Landing Craft Heavy vessels

An announcement from Austal ( (AU:ASB) ) is now available.

Austal Limited, Australia’s largest defence exporter and a major global shipbuilder, specialises in advanced commercial and military vessels for clients including the U.S. Department of Defense, U.S. Coast Guard and the Australian Department of Defence. With shipyards across Australia, the United States, the Philippines and Vietnam, the ASX-listed group has delivered more than 360 vessels over almost 40 years and was named the Australian Government’s Strategic Shipbuilder in Western Australia in 2024.

The company has secured a binding A$4 billion contract with the Commonwealth of Australia to construct eight 100-metre Landing Craft Heavy vessels at its Henderson, Western Australia shipyard, based on the Damen LCT100 design. The deal significantly strengthens Austal’s defence order book and underscores its growing strategic role in Australia’s naval shipbuilding program, supporting long-term utilisation of its Western Australian facilities and reinforcing its competitive position in the global defence maritime market.

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-based global shipbuilder and defence prime contractor that designs, constructs and sustains advanced commercial and military vessels. The company is Australia’s largest defence exporter and the first ASX-listed shipbuilder, operating major shipyards in Australia, the U.S., the Philippines and Vietnam, and supplying platforms to defence and border agencies in over 59 countries.

Over nearly four decades, Austal has delivered more than 360 vessels to 122 commercial and defence operators worldwide, including the U.S. Navy’s Littoral Combat Ship and Expeditionary Fast Transport programs. Its capabilities now span offshore patrol cutters for the U.S. Coast Guard, nuclear submarine modules for U.S. Virginia and Columbia class submarines, auxiliary vessels for the U.S. Navy, and landing craft and patrol boats for the Australian Department of Defence.

In November 2024, the Australian Government appointed Austal as its Strategic Shipbuilder for key Defence vessels in Western Australia, cementing the company’s central role in the nation’s naval industrial base. This designation reinforces Austal’s position at the core of Australia’s maritime defence capability and underpins its long-term pipeline of government defence work.

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