What Veem Propellers does

VEEM Ltd (ASX:VEE), trading through its VEEM Marine division, is an Australian precision marine engineering company founded in 1968 and headquartered in Canning Vale, Western Australia. The company designs and manufactures two core product lines: (i) fully CNC-machined marine propellers across the VEEM NiBral CNC, VEEM Extreme CNC, and SHARROW by VEEM ranges (with design variants VEEM-Star, Sportfish, Surf, Superyacht, Kaplan and Skewplan), and (ii) a gyrostabilizer family spanning the VG52 through VG750 Mark II series for vessels from 50 to 3,000 tonnes. Underlying technology includes 100% five-axis CNC machining exceeding ISO S-Class tolerances, high-speed steel flywheels spinning in vacuum-controlled chambers for gyrostabilization, the patented Interceptor mechanism for in-situ pitch adjustment, and proprietary patternless robotic mold-making at Australia's largest non-ferrous foundry. Manufacturing is conducted from a 10,500 sqm facility staffed by approximately 180 employees including an in-house R&D team.

VEEM sells custom-quoted hardware to a customer base spanning superyacht builders (Princess, Viking, Riva, Azimut, Rossinavi, Overmarine), large commercial and defense shipyards (Damen Shipyards, Austal, Strategic Marine, Friere, Volvo Penta), and government/military end-users (US Navy LCS program, Australian Naval and Customs Service, Tasmania Police). Go-to-market combines direct enterprise sales to OEMs, a growing global dealer network (most recently expanded with Marine Service Asia for Eastern Asia in January 2025), and online self-serve sizing/quoting tools. Preferred-supplier and exclusivity arrangements with Viking Yachts (over 1,500 propellers supplied over two decades) and Strategic Marine (Fast Crew Boat gyro exclusivity) anchor recurring revenue, while all sea-trial claims are independently witnessed by Lloyd's Register.

Revenue is generated primarily through bespoke hardware sales (new units, with aftermarket service and components on gyro units), supplemented by defense and specialist component manufacturing (stabilizing fins for US Navy LCS and Australian naval vessels). Recent strategic priorities center on defense and commercial workboat expansion (Damen VG1000SD, Strategic Marine exclusivity), the OEM-centric Sharrow MX licensing program (TIME Best Inventions 2023), defense and patrol-vessel reference wins (Best Patrol Boat 2024, Baird Maritime), and the 2024-2025 launches of the Mark II Gyrostabiliser range, the SHARROW by VEEM commercial acceleration, and the VEEM Extreme rollout across propeller designs.

Name

Veem Propellers

Legal name

VEEM Ltd

Website

https://veemmarine.com

Company type

Public

Founded year

1968

Operating status

Operating

Headcount range

11–50 employees

Short description

VEEM Ltd (ASX:VEE), through its VEEM Marine division, designs and manufactures fully CNC-machined marine propellers and gyrostabilizers for superyacht, defense, commercial workboat, fast ferry and sportfishing customers globally from its Perth facility.

Ownership category

akta.pro rank

Product category

Marine Propulsion Equipment

NAICS

Mechanical Power Transmission Equipment Manufacturing (333613)

SIC

Screw Machine Products (3451)

akta.pro primary industry

Propellers & Waterjets (IMAJAHAE)

akta.pro secondary industries

Propulsion Drives, Gearboxes & Shaftlines (IMAJAHAD), Propulsion MRO, Spares & Field Service (Overhauls, retrofits, upgrades) (IMAJAHAN)

Keywords

• Marine propellers
• Gyrostabilizer manufacturing
• Precision CNC machining
• Ship propulsion systems
• Marine stabilization equipment

Headquarters

HQ city

Canning Vale

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Gyrostabilizer Sales: Sale of VEEM Gyro stabilizers including models VG52, VG70, VG100, VG140, VG520, VG750 for vessels from 50 to 3000 tonnes. Revenue is generated from new unit sales and aftermarket service.
2. Propeller Sales: Sale of VEEM propellers including VEEM NiBral CNC, VEEM Extreme CNC, and SHARROW by VEEM. Products include VEEM-Star, VEEM-Sportfish, VEEM-Surf, VEEM-Superyacht, VEEM-Kaplan, and VEEM-Skewplan designs.
3. Shaft Line and Components: Supply of complete shaft-line packages including Flow-Aligned Rudders, splined and tapered shafts, and brackets.
4. Defense and Specialist Components: Manufacturing of precision components for defense applications including stabilizing fins for US Navy LCS vessels and Australian naval vessels.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

VEEM Marine manufactures fully CNC-machined marine propellers (VEEM NiBral CNC, VEEM Extreme CNC, SHARROW by VEEM) and vacuum-chamber gyrostabilizers (VG Mark II series) for vessels from 50 to 3,000 tonnes. The company also supplies complete shaft line packages including flow-aligned rudders, splined shafts, and brackets, serving superyacht builders, commercial workboat operators, and naval/defense customers worldwide.

Product overview

VEEM Marine is a division of VEEM Ltd, offering two core product lines: marine propellers and gyrostabilizers. The propeller portfolio includes fully CNC-machined products (VEEM NiBral CNC and VEEM Extreme CNC), the SHARROW by VEEM partnership propellers, and multiple design variants (VEEM-Star, VEEM-Sportfish, VEEM-Surf, VEEM-Superyacht, VEEM-Kaplan, VEEM-Skewplan) with supporting technologies like Interceptor Technology and Flow-Aligned Rudders. The gyrostabilizer range spans small frame units (VG52 Mark II, VG70 Mark II), mid frame units (VG100 Mark II, VG140 Mark II), and large frame units (VG520, VG750), suitable for vessels from 50 to 3000 tonnes. Supporting products include shaft line packages, splined shafts, brackets, and prop pullers. VEEM is globally recognized as the only commercial volume producer of fully CNC machined monobloc propellers.

Differentiator

Problem solved

Functional benefit

Brands

• VEEM Marine: The Marine division of VEEM Ltd providing high-technology marine products including gyrostabilizers, propellers, and shaft line packages to companies across the globe.
• SHARROW by VEEM

Products and services

• VEEM NiBral CNC Propellers Fully CNC-machined nickel-aluminum-bronze propellers precision manufactured to S-Class tolerances and above, delivering 5.7% more efficiency than standard propellers. Used by commercial vessel operators and recreational boat builders.
• VEEM Extreme CNC Propellers Premium fully CNC-machined propellers offering 11.9% reduction in fuel burn and up to 3.36 knots additional top speed compared to Class 1 propellers. Designed for high-performance vessels including superyachts, fast ferries, and military applications.
• SHARROW by VEEM Propellers Revolutionary loop-shaped propellers designed by Sharrow Engineering, exclusively manufactured by VEEM for inboard motor vessels up to 5 metres in diameter. Named in TIME's Best Inventions of 2023, offering up to 30% efficiency improvement and 80% quieter operation.
• VG52 Mark II Gyrostabilizer Small-frame gyrostabilizer using high-speed steel flywheel in vacuum chamber, suitable for vessels 65'-120' (approximately 50-150 tonnes). Provides stabilization at all speeds and at rest.
• VG70 Mark II Gyrostabilizer Small-frame gyrostabilizer for vessels 65'-120', offering advanced stabilization capabilities with vacuum-chamber flywheel technology for vessels of 50-150 tonnes.
• VG100 Mark II Gyrostabilizer Mid-frame gyrostabilizer suitable for vessels 110'-165' (approximately 150-350 tonnes), providing enhanced stabilization for mid-sized commercial and luxury vessels.
• VG140 Mark II Gyrostabilizer Mid-frame gyrostabilizer for vessels 110'-165' offering higher torque for demanding commercial applications, with up to 80% roll reduction capability.
• VG520 Gyrostabilizer Large-frame industrial-grade gyrostabilizer suitable for vessels 150'-300'+ (approximately 500-1500 tonnes), used in commercial workboats and large vessels.
• VG750 Gyrostabilizer Large-frame gyrostabilizer suitable for vessels 150'-300'+ (approximately 500-2000+ tonnes), representing VEEM's most powerful gyro unit for the largest commercial and naval vessels.
• Marine Shaft Line Packages Complete propulsion system packages including flow-aligned rudders, splined and tapered shafts, and brackets for complete vessel integration.
• Flow-Aligned Rudder Advanced rudder design providing 72% less drag than flat-plate rudders, 0.25-knot speed gain, and 6.2% fuel burn reduction when paired with VEEM Extreme propellers.

Quantifiable outcome

• 18.1% reduction in fuel burn with VEEM Extreme Propeller + Flow-aligned Rudder combined
• +6 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Marine Service AsiacoreChannel Partner/ Reseller/ Distributor · 30 January 2025Marine Service Asia appointed as official dealer for VEEM Marine products and services across Eastern Asia. Brings local expertise and regional insight to VEEM's growing global network.
• Sharrow Engineering LLCcoreOEM/ Whitelabel/ Licensing Partner · 2 October 2023Partnership for VEEM to exclusively manufacture and sell Sharrow designed propellers worldwide up to 5 metres in diameter for inboard motor vessels. VEEM's world-class casting and CNC machining capabilities combined with Sharrow's patented propeller technology. Sharrow MX Propeller named in TIME's Best Inventions of 2023.
• Strategic MarinecoreStrategic or Co-development Partner · 26 June 2023Exclusivity Agreement with Strategic Marine for VEEM Gyros on Fast Crew Boats. Strategic Marine collaborated with VEEM Marine as supply partner for 42m Gen 4 Fast Crew Boat (FCB) developed with Southerly Designs, featuring VG140SD Gyrostabilizer for up to 80% roll reduction.
• AmpelmannminorStrategic or Co-development Partner · 19 July 2018Collaboration between Damen, Ampelmann and VEEM at sea trials on Damen Fast Crew Supplier 5009. Ampelmann provides motion compensating gangway systems; combined with VEEM gyrostabilizers for enhanced offshore access solutions.
• Damen ShipyardscoreStrategic or Co-development Partner · 4 May 2018Damen Shipyards contracted for VEEM's largest gyrostabilizer model VG1000SD. Damen is Europe's 2nd largest shipbuilder with 33 shipyards globally, turnover around $2.7B. Successful sea trials completed with VG260SD on FCS 5009 vessel; Damen proceeding to purchase phase for VG1000SD.
• Viking YachtscoreOEM/ Whitelabel/ Licensing PartnerVEEM recognized as primary and preferred supplier for Viking Yachts. Exclusive agreement formalized for security of supply. VEEM has supplied over 1,500 propellers for Viking Yachts over two decades.
• Austal AustraliacoreOEM/ Whitelabel/ Licensing PartnerVEEM supplies precision-engineered components for Guardian-class Patrol Boats built by Austal. Supplied 22nd Guardian-class vessel RFNS Timo to Fiji under Pacific Maritime Security Program.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Wärtsilä: Finnish Wärtsilä is a global marine systems incumbent offering engines, propulsors, and integrated solutions across commercial shipping, offshore, and naval markets. Comparable as a broad incumbent in marine propulsion technology and naval/defense stabilization contracts.
• Brunswick Corporation (Mercury Marine): Brunswick's Mercury Marine division is the dominant recreational marine propulsion brand in the world. While VEEM plays at the higher-precision/OEM end, Brunswick competes broadly for sportfishing and cruiser OEM propeller and propulsion specification.
• Volvo Penta: Volvo Penta is a Tier-1 marine propulsion OEM supplying engines, drivelines, and integrated propulsion packages. It is both a VEEM customer (referenced across multiple programs) and a broad incumbent against which VEEM's propeller and gyro portfolio competes for specification on newbuilds.
• Rolls-Royce (Marine): Rolls-Royce supplies marine propulsion systems, propellers, and stabilization solutions to commercial, naval, and superyacht customers globally. It is a broad incumbent with overlapping propulsion and stabilization technology — the closest Tier-1 competitor to VEEM in integrated marine propulsion.

Direct peers

• Seakeeper: Seakeeper is the leading global supplier of marine gyrostabilizers for recreational and light commercial vessels, making it the most direct competitor to VEEM's VG Mark II range. Both companies sell vacuum-enclosed flywheel stabilization to yacht and patrol customers globally.
• CMC Marine: Italian-based CMC Marine designs and manufactures gyrostabilizers and stabilization systems primarily for the superyacht segment — directly overlapping VEEM's VG520/VG750 targeting of large Italian builders (Riva, Azimut, Rossinavi, Overmarine).
• Nakashima Propeller: Nakashima Propeller is a Japanese manufacturer of high-precision marine propellers for commercial, naval, and large-vessel applications — a direct manufacturing peer to VEEM's propeller business, competing on precision tolerances and large-diameter capability.
• Michigan Wheel Marine: Michigan Wheel Marine manufactures cast and CNC propellers for recreational, commercial, and government marine markets. Direct product overlap with VEEM's propeller line in mid-range marine applications.
• Sharrow Engineering: Sharrow Engineering designs the loop-shaped Sharrow MX propeller (TIME Best Inventions 2023) and licenses VEEM for exclusive worldwide manufacture up to 5m. While commercially partnered, Sharrow is also a propeller-design peer with overlapping customer interest in efficiency and noise improvements.
• Sleipner Group (Atrim/ABT-TRAC): Sleipner Group supplies fin and gyro-based stabilization systems to the marine market. Comparable to VEEM as an alternative stabilization technology competing for the same superyacht and patrol-boat stabilization specification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/VEEMProps
• YouTubeyoutube.com/@veem_ltd
• Facebookfacebook.com/287384711303224
• LinkedInlinkedin.com/company/veem-propellers
• Instagraminstagram.com/veemmarine/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veem Propellers