Even in the lucrative world of the arms trade, it isn't every day that a sale worth more than $38.54 billion is made. Australian Prime Minister Malcolm Turnbull announced Tuesday the winner of Australia's Future Submarine contract. DCNS, a French industrial group that specializes in naval equipment, bested rival Japanese and German companies, forcing them to learn the bitter lessons of a lost contest. The Future Submarine Program is the most expensive defense procurement project in Australian history. The search for the next submarine type to replace the unreliable Collins-class began in 2007, with much debate over concept details and intended capabilities. The procurement phase of the project entered the final stretch in February 2015 with a competitive evaluation process. Japanese, German and French maritime industries competed for a contract to build and deliver 12 submarines in all, with the winner announced today.