Thyssenkrupp shareholders have approved the spinoff of its naval division, Thyssenkrupp Marine Systems (TKMS), as the conglomerate seeks to address financial challenges. The company plans to list TKMS on the Frankfurt Stock Exchange by mid-October 2025. This move comes amid a broader European defense industry expansion, driven by increased defense spending following Russia's 2022 invasion. Satellite radar data reveals that Europe's arms factories have expanded at three times the peacetime rate, covering more than 7 million square meters of new industrial development. The expansion has been supported by European Union subsidies, including the €500 million ASAP program. Meanwhile, Rheinmetall, a key European defense contractor, has indicated that tank production costs are expected to decrease despite the surge in defense budgets.