July 24, 2026
The cost of the eight nuclear-powered attack submarines (SSNs) that Australia intends to acquire under an agreement concluded with the United Kingdom and the United States (AUKUS) in 2021 continues to rise. This is all the more significant given that the Royal Australian Navy (RAN) plans to spend up to €6.7 billion to extend the operational lifespan of its six Collins-class submarines, preventing a capability gap by 2040.
As a reminder, of the eight nuclear-powered attack submarines (SSNs) in question, three will be supplied by the United States, while the other five will be built in cooperation with the United Kingdom under the SSN-AUKUS program.
Initially, the RAN expected to receive new Virginia-class submarines, and as the American shipbuilding industry was facing significant difficulties, Canberra agreed to grant it subsidies totaling US$3 billion (approximately €2.6 billion). However, the SSNs promised by Washington will ultimately be drawn from the US Navy's inventory.
At the same time, Australia must get its shipbuilding industry up and running to build the five AUKUS-class nuclear-powered attack submarines (SSNs) and ensure the operational readiness of the future fleet of nuclear attack submarines (SSNs), even though it lacks both expertise in nuclear propulsion and the capacity to undertake such a project. Hence the need for significant investment to bring it up to standard.
In September 2025, Canberra announced a ten-year investment of AU$12 billion [approximately €7 billion] to renovate and improve the infrastructure of the Henderson shipyard, near Perth [Western Australia]. This investment is intended to build secure dry docks for the maintenance of its future SSNs. But that's not all, as the Mogami-class frigates, ordered from Japan, will also be built there.
“Henderson is a key element of the AUKUS agreement.” “This is what Australia must do to seize this strategic opportunity,” argued Richard Marles, the Australian Minister for Defence at the time.
In February, he announced a new investment of AU$3.9 billion (approximately €2.3 billion) to launch a new shipyard, this time in Osborne, near Adelaide, South Australia. This future facility will be responsible for building the five AUKUS-class SSNs.
But this was just the beginning… Indeed, on July 24, Mr. Marles announced that the Osborne shipyard would receive an additional AU$4.6 billion (approximately €2.8 billion) in funding to “support the continued” construction.
“This investment represents another important step in developing the sovereign capabilities Australia will need to build, operate, maintain, and sustain its future fleet of submarines,” commented Mr. Marles. “The ongoing work at Osborne demonstrates that AUKUS is on track and is becoming a reality now, while creating opportunities for Australian industry and workers for decades to come,” he added.
The cost of Australia’s eight future nuclear-powered attack submarines (SSNs) is estimated to reach approximately €220 billion over the next thirty years… nearly four times more than the twelve Shortfin Barracuda-class submarines that Canberra initially ordered from the French company Naval Group in 2016. But as the essayist André Frossard once wrote, “the best way to know where you’re going is still to go there.” /END