Rheinmetall Q1 sales jump 8% year on year, as naval business era begins with promise
“The technology group’s order books remain at record levels,” said the Dusseldorf-based firm as it also predicted "significant growth acceleration" for Q2.
“The technology group’s order books remain at record levels,” said the Dusseldorf-based firm as it also predicted "significant growth acceleration" for Q2.
"In total, the German Bundestag has approved €1.3 billion for the project a few days ago, so further call-offs are expected," said the European manufacturer.
The framework contract signing comes after Rheinmetall announced in February a FV-014 demonstration in collaboration with a potential undisclosed NATO customer.
“We must expand the industrial base for modern defence systems in Europe,” CEO of Rheinmetall Armin Papperger said.
"We need an interim tank, that is likely going to be a KNDS Germany or KNDS France platform," said French Armed Forces Minister Catherine Vautrin.
Industrial planning depends on first securing a CCA contract and beating out a number of competitors.
From emerging data networks to missile tracking and cyber resilience, Breaking Defense’s latest eBook brings together essential reporting on the evolving role of satellites in national security.
Though the tie-up isn't complete, if the deal happens Lockheed would see work done on its HIMARS at a Rheinmetall center in Queensland.
Leonardo said “available cash resources” will finance the acquisition, which is also planned to leverage “the complementary nature of the two companies’ sales networks."
The “tense security situation underpins the promising position of the Group," said the European prime.
Outlining next steps, Rheinmetall said that "the tank will undergo further trials, as it moves towards operational service as the centrepiece of the British Army’s modernisation programme."
The decision reflects a shift in how Sweden’s military looks at air defense.
For ICEYE, the German deal is the latest in a handful of high-profile sales to European militaries as the continent moves out on a collective effort to establish "strategic autonomy" in from the United States in the space domain.
An increased production in munitions from Europe takes the burden off the US while securing Europe's position as a key defense partner, write Michael Kidd and Giana Farry.
"Successful tests conducted on the frigate SACHSEN proved the demonstrator’s tracking capability, effectiveness and precision under real operational conditions for the first time in Europe," the announcement says.