Rheinmetall

What Rheinmetall does

Rheinmetall AG is a German integrated technology group headquartered in Düsseldorf, founded in 1889 and listed on the Frankfurt Stock Exchange (DAX 40 since March 2023). Operating across the land, air, sea, and space domains, the company is Germany's largest defense contractor and a leading European systems house, employing ~34,184 staff across ~153 locations as of May 2026. It produces armored vehicles (Panther KF51, Boxer, Lynx KF41, Bergepanzer 3 Büffel), air defense systems (Skyranger 30/35, Oerlikon Skynex, Oerlikon Skyshield), loitering munitions and cruise missiles (FV-014, Containerized Missile Launcher, Ruta Block 3 with >2,000 km range), naval systems (Oerlikon Millennium Gun, Searanger, MASS, and via the NVL acquisition, frigates), and digital command-and-control solutions centered on the Battlesuite open architecture. FY2025 revenue was €9.44 billion with an operating result of €1.809 billion from continuing operations, and the order backlog reached €73 billion by mid-2026 (~31% YoY growth). Vertically integrated ammunition production — anchored by Expal Systems, Muni Berka, Resonant Holdings, and the Unterlüß facility targeting 1.5 million artillery projectiles annually by 2030 — is a core differentiator.

The company operates a pure business-to-government (B2G) model, selling directly to NATO and European defense ministries through individually negotiated multi-year contracts, supplemented by joint ventures and event-driven sales (Eurosatory, ILA Berlin). Customers include the German Bundeswehr, British Army, Ukrainian Armed Forces, Romanian Government (€5.7B Skyranger deal), Swedish Armed Forces, German Air Force, and NATO member states collectively. Distribution extends through regional JVs (Rheinmetall BAE Systems Land in the UK, Rheinmetall Destinus Strike Systems, Rheinmetall-LIG D&A, Automecanica Mediaș in Romania, DOK-ING in Croatia, GEK TERNA in Greece) enabling in-country production. Civil/industrial revenue from products such as the Ladebordstein EV charging curb is a minor, non-core stream. Recent strategic direction emphasizes naval and space domain expansion (NVL acquisition, OHB Rheinmetall Space Networks, ICEYE JV, Vantor spatial intelligence JV), European sovereign ISR/cruise missile capabilities (Ruta Block 3, Kryla), and a shift from hardware supplier to multi-domain systems integrator — though the June 2026 cancellation of the German F126 frigate program (an ~€12.8B expected contract) materially set back naval ambitions and triggered a ~40% YTD 2026 stock decline.

Name

Rheinmetall

Legal name

Rheinmetall AG

Website

https://rheinmetall.com

Company type

Public

Founded year

1889

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Rheinmetall AG is Germany's largest defense contractor, operating as an integrated technology group across land, air, sea, and space domains — producing armored vehicles, air defense systems, loitering munitions, cruise missiles, and naval platforms for NATO and partner governments, with ~€9.44B FY2025 revenue and a €73B order backlog.

Ownership category

akta.pro rank

Product category

Defense Systems (Military Hardware and Integrated Defense Solutions)

NAICS

Military Armored Vehicle, Tank, and Tank Component Manufacturing (336992), Guided Missile and Space Vehicle Manufacturing (336414), Ammunition (except Small Arms) Manufacturing (332993), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing (336419)

SIC

Ordnance & Accessories, (No Vehicles/Guided Missiles) (3480), Guided Missiles & Space Vehicles & Parts (3760), Search, Detection, Navagation, Guidance, Aeronautical Sys (3812)

akta.pro primary industry

Self-Propelled Artillery & Armored Fire Support Vehicles (IMABAJAE)

akta.pro secondary industries

Military Tactical Wheeled Vehicles (Light/Medium/Heavy) (IMABAJAK), Bombs, Depth Charges & Aerial Delivered Ordnance (IMABAHAI), Naval Weapons & Launch Systems (Guns, VLS, Torpedoes) (IMABAKAC)

Keywords

• Air defense systems
• Armored military vehicles
• Artillery ammunition
• Military vehicle manufacturing
• Defense electronics

Headquarters

HQ city

Düsseldorf

HQ country

Germany

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Defense Systems (Weapons, Ammunition, Vehicles): Rheinmetall generates the majority of revenue through direct sales of military systems including vehicles (Panther KF51, Boxer, Lynx), weapons, ammunition, and air defense systems to government defense ministries. Weapons and ammunition constitute approximately 26% of net sales.
2. Air Defense Systems: Significant revenue stream from integrated air defense solutions including Skyranger, Skynex, and Oerlikon systems sold to NATO and partner governments.
3. Digital Systems and ISR: Growing revenue from digital command-and-control systems, satellite communications (SATCOMBw), reconnaissance systems, and networked battlefield solutions.
4. Civil/Industrial Products: Diversified industrial products including electric vehicle charging infrastructure (Ladebordstein), automotive components, hydrogen technology, and industrial laser systems. These represent a smaller portion of overall revenue.
5. Professional Services: Maintenance, repair, training, and simulation services for military systems, including depot-level maintenance and lifecycle support.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Rheinmetall AG manufactures and integrates defense systems across land, air, sea, and space domains for government defense ministries and armed forces. Its portfolio spans mobile air defense systems (Skyranger 35/30, Oerlikon Skynex, Oerlikon Skyshield), main battle tanks and armored vehicles (Panther KF51, Boxer, Lynx KF41, Bergepanzer 3 Büffel), weapons and ammunition, loitering munitions (FV-014, Containerized Missile Launcher), naval weapons (Oerlikon Millennium Gun, Searanger, MASS), unmanned ground and aerial systems (Mission Master, LUNA NG), battle management software (TacNet, GLADIUS, Battlesuite), and precision-guided munitions (Vektrex). Smaller civil operations include the Ladebordstein EV charging curb and hydrogen and automotive components.

Product overview

Rheinmetall is a leading integrated technology group for security and defence technologies, operating across land, air, sea, and space domains. The company offers a comprehensive portfolio of military systems including air defence solutions (Skyranger 35, Skyranger 30, Oerlikon Skynex, Oerlikon Skyshield), loitering munitions (FV-014, Containerized Missile Launcher), armored vehicles (Panther KF51, Boxer, Survivor R, Bergepanzer 3), soldier systems (GLADIUS, TacNet), sensor and reconnaissance systems (LUNA NG, FIRST, Mission Master A-UGV), and naval systems (Millennium Gun, Searanger, MASS). The Battlesuite digital ecosystem connects all these systems through open, standardized interfaces enabling networked operations. Civilian products include electric vehicle charging infrastructure (Ladebordstein), hydrogen solutions, and industrial components.

Differentiator

Problem solved

Functional benefit

Brands

• Oerlikon: Air defence systems brand including Skynex, Skyshield, and Skymaster products
• Boxer
• Panther KF51
• Bergepanzer 3 Büffel
• Hermelin C-UAS
• FV-014
• Containerized Missile Launcher (CML)
• Skyranger 35
• Mission Master
• Vektrex
• TacNet
• GLADIUS
• MASS
• Ladebordstein (Curbcharger)

Products and services

• Battlesuite Digital military ecosystem for networked armed forces, providing interoperable digital solutions for platforms, sensors, and effectors with open and standardized interfaces, enabling sensor-to-shooter connectivity.
• Skyranger 35 Mobile air defence system on Lynx KF41 chassis with 35mm revolver cannon and programmable AHEAD airburst ammunition for countering drones, swarm drones, and air threats at close range.
• Skyranger 30 Mobile air defence system featuring 30mm revolver cannon with programmable airburst munitions effective against micro-drones at ranges up to 3,000 meters, built on the Lynx KF41 combat vehicle chassis.
• Oerlikon Skynex Networked short-range air defence system with cannon-based protection using programmable 35mm AHEAD ammunition, designed for close-range threats where missiles are less effective.
• Oerlikon Skyshield Stationary air defence system for protecting critical military infrastructure against air threats.
• Panther KF51 Next-generation main battle tank featuring a 130mm gun, advanced firepower, protection, and networking capabilities for modern warfare.
• Boxer Armored Vehicle Highly mobile, armored wheeled vehicle with modular design enabling multiple mission-specific variants including the Mechanized Infantry Vehicle (MIV) configuration for European militaries.
• Bergepanzer 3 Büffel Modernized armored recovery vehicle (Bergepanzer 3 A2) for mechanized forces, designed for battlefield recovery and support operations.
• FV-014 Loitering Munition System 20 kg reconnaissance and strike drone with up to 70 minutes flight time, 100 km range, HEDP payload capable of 600mm armor penetration, AI-enabled with 360-degree gimbal and swarm capability.
• Containerized Missile Launcher (CML) Modular autonomous weapon system transforming 20-foot shipping containers into rapid-launch missile bases capable of deploying multiple FV-014 kamikaze drones in coordinated swarms with integrated fire control.
• Hermelin C-UAS Counter-Drone Platform Mobile 6x6 hybrid counter-drone vehicle with autonomous mobility, up to 400 km range and 1-ton payload capacity, equipped with FN Herstal's 12.7mm DeFNder weapon station.
• Drohnenabwehr Toolbox Protection solution for civilian and military facilities against drone threats, addressing both civilian incidents and military applications of commercial drones.
• LUNA NG Unmanned Aerial Reconnaissance System Next-generation reconnaissance drone for real-time intelligence transmission and coordinated operations, integrated with the Bundeswehr's C2-UMS command system.
• Mission Master A-UGV Autonomous unmanned ground vehicle family providing support for infantry, designed for reconnaissance, logistics, and support missions.
• TacNet Battle Management System Tactical Battle Management System developed specifically for soldiers at the tactical level, enabling fast decision-making and coordinated operations.
• GLADIUS Soldier System Soldier system providing enhanced situational awareness and combat capabilities for dismounted infantry forces.
• FIRST (Fast InfraRed Search and Track) Sensor Infrared surveillance system for 360-degree operation with very short reaction times and high sensor sensitivity for air defense and reconnaissance.
• Vektrex Precision-Guided 155mm Artillery Munition Maneuverable 155mm precision-guided artillery ammunition extending range 2-3x beyond conventional rounds, designed for contested and GPS-degraded environments.
• Ruta Block 3 Long-Range Cruise Missile Long-range cruise missile capable of striking targets over 2,000 km distance, deployable from standard shipping containers, part of the fully European deep-strike missile portfolio.
• 155mm Waffenanlage L60 Artillery System Next-generation 155mm artillery gun system offering approximately 30% greater range than the L52 system, designed for modern NATO-standard artillery forces.
• Oerlikon Millennium Gun (Naval) Maritime air defence cannon system for naval applications, providing close-range protection against air threats, including drones and missiles.
• Oerlikon Searanger Naval-mounted air defence system for maritime platforms.
• MASS Naval Countermeasure System Naval countermeasure system for protecting ships against missiles and other incoming threats.
• Ladebordstein (Curbcharger) EV Charging Infrastructure Innovative electric vehicle charging solution using existing curb infrastructure, offering up to 22 kW charging capacity with smart features including 4G modem and load balancing for urban and fleet deployments.
• Survivor R 4x4 Special Purpose Vehicle Specialized security vehicle offering an optimal combination of mobility and protection for modern military and security operations.

Quantifiable outcome

• Up to 1.5 million artillery projectiles annually by 2030
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Twelve partnerships are on record, tiered core, supporting and minor.

• OHB SEcoreStrategic or Co-development Partner · 25 June 2026Joint venture OHB Rheinmetall Space Networks formed to bid for SATCOMBw 4 satellite communication system for German Bundeswehr. Partnership hosted SME and startup day to build industrial network for the project.
• GEK TERNA S.A.supportingStrategic or Co-development Partner · 24 June 2026Strategic partnership agreement to strengthen Greek defense industry through localized production, maintenance, and support capabilities. Combines GEK TERNA's infrastructure expertise with Rheinmetall's land systems portfolio.
• BoeingcoreStrategic or Co-development Partner · 20 June 2026MQ-28 Ghost Bat collaborative combat aircraft partnership with expanded German industrial team including Rohde & Schwarz, Diehl Defence, and Rheinmetall to support German Luftwaffe CCA procurement targeting 2029 service.
• General AtomicscoreStrategic or Co-development Partner · 18 June 2026MoU to explore co-production of Vektrex precision-guided 155mm artillery munition compatible with NATO-standard artillery systems. The partnership leverages Rheinmetall's NATO-compliant manufacturing and GA's munition technology to establish a transatlantic industrial network.
• VantorcoreStrategic or Co-development Partner · 18 June 2026MoU to establish JV in Germany for sovereign spatial intelligence capabilities, integrating Vantor's Tensorglobe platform with Rheinmetall's command-and-control systems. Will provide European armed forces with sovereign control over intelligence processing and deployment.
• ICEYEcoreStrategic or Co-development Partner · 17 June 2026JV to develop space-based ISR capabilities for Germany, integrating SAR satellite imagery and data processing. Brings together multiple German space companies (Reflex Aerospace, OrraTech, ConstellR, LiveEO) for independent European intelligence-gathering.
• LIG Defense&AerospacecoreStrategic or Co-development Partner · 15 June 2026Joint venture with South Korean partner for air defense systems in Europe, with Rheinmetall holding majority shares. Will localize LIG's medium and long-range air defense missile systems while combining with Rheinmetall's VSHORAD capabilities. Joint development of new SHORAD missiles planned.
• ERC SystemminorStrategic or Co-development Partner · 15 June 2026Partnership to establish production of Victor U250 heavy-lift cargo drone in western Germany with state of North Rhine-Westphalia. Hybrid-electric VTOL drone for military resupply, offshore logistics, and medical transport.
• DOK-INGcoreStrategic or Co-development Partner · 4 March 2026Rheinmetall acquired 51% stake in Zagreb-based DOK-ING, a specialist in unmanned ground systems for mine clearance and hazardous environments. DOK-ING will establish a center of excellence for unmanned military vehicles in Croatia while gaining access to Rheinmetall's global market reach. The partnership aims to develop unmanned combat support systems including the Wingman platform based on DOK-ING's Komodo heavy vehicle.
• DestinuscoreStrategic or Co-development Partner · 1 January 2026Rheinmetall Destinus Strike Systems JV advancing Ruta Block 3 cruise missile with 2,000+ km range, Kryla and Ruta Block 2 systems. 100% European value chain with final assembly in Germany. Destinus provides missile technology; Rheinmetall provides warheads and booster rockets.
• Muni Berka GmbHsupportingStrategic or Co-development Partner · 10 December 2025Acquisition of ammunition specialist Muni Berka to increase storage and production capacity for ammunition and components. The deal allows immediate storage of over 1 million 155mm projectiles, supporting Rheinmetall's expanded production site in Unterlüß.
• Automecanica MediașcoreStrategic or Co-development Partner · 1 February 2024Rheinmetall acquired 72.5% stake in Romanian vehicle manufacturer to enhance military vehicle production capacity and support NATO operations in Central Europe and Ukraine. The acquisition strengthens Rheinmetall's European manufacturing footprint.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• BAE Systems: UK-headquartered global defense prime operating across air, land, and sea domains. Direct overlap with Rheinmetall in armored vehicles (Boxer RBSL JV), naval shipbuilding, munitions, and air defense. Comparable scale (~£25B revenue) and similar European NATO-aligned customer base.
• General Dynamics: US defense prime with extensive armored vehicle portfolio (M1 Abrams tanks, Stryker, Bradley) and combat systems division. Directly comparable to Rheinmetall in main battle tanks, infantry fighting vehicles, and ammunition/munitions manufacturing. Similar business mix between platforms and combat systems.
• Saab: Swedish defense and security company with comparable product portfolio spanning ground combat, naval, air defense, and aeronautics. Similar European positioning and growing defense spending exposure (Carl-Gustaf, Gripen, Giraffe radar). Both companies benefit from NATO rearmament trends.
• Thales: French defense electronics and systems prime with comparable domain coverage in air defense, missile systems, naval, and digital battlefield solutions. Operates in similar European defense ecosystem with overlapping customer base across NATO governments.
• KNDS: Joint venture between KMW and Nexter, Europe's leading manufacturer of main battle tanks (Leopard 2, Leclerc) and artillery systems. Direct competitor to Rheinmetall's Panther KF51 in main battle tanks and artillery; both companies supply NATO armored vehicle fleets.
• Leonardo: Italian defense, aerospace, and security company operating across helicopters, electronics, aircraft, and space. Comparable European defense prime with similar exposure to NATO defense spending increases and multi-domain product portfolio.
• Nammo: Nordic-headquartered ammunition and rocket motor manufacturer with comparable ammunition production capabilities and European defense customer base. Smaller scale than Rheinmetall but directly comparable in the ammunition segment, which represents ~26% of Rheinmetall net sales.

Broad incumbents

• Lockheed Martin: Global defense incumbent with overlapping capabilities in missiles, air defense (Patriot PAC-3), precision-guided munitions, and F-35 program (Rheinmetall manufactures F-35 center sections at Weeze). Larger scale but competes with Rheinmetall's Skynex/Skyranger and emerging cruise missile portfolio.
• Raytheon Technologies / RTX: US defense giant competing in air defense (Patriot, NASAMS), missile systems, and radar (competes with Rheinmetall via partnership dynamic with Indra Nemus AESA radar). Larger incumbent but offers overlapping capabilities in the air defense and precision munition segments.

Emerging players

• Hanwha Aerospace: South Korean defense company expanding into European NATO markets (K9 Thunder howitzer, K2 main battle tank supply to Poland). Emerging competitor to Rheinmetall in armored vehicles and artillery, with parallel transatlantic expansion trajectory as Rheinmetall's LIG Defense&Aerospace JV.

Market position

Weaknesses4 records

Competitive moat8 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/rheinmetallag
• YouTubeyoutube.com/@RheinmetallGroup
• LinkedInlinkedin.com/company/rheinmetall
• Instagraminstagram.com/rheinmetallag
• Facebookfacebook.com/Rheinmetall-310343215835843

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries15 records

Funding overview

Funding rounds3 records

Investors1 record

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

M&A13 records

Investments3 records

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

Frequently asked questions about Rheinmetall