German defence company Rheinmetall and Finnish satellite maker ICEYE have established a joint venture to manufacture synthetic aperture radar (SAR) satellites, Rheinmetall said on Friday. Rheinmetall holds a 60 percent stake in the project, while ICEYE holds 40 percent of shares.
The Ukraine war and expanding global conflict showered a windfall on German arms companies like Rheinmetall and TKMS, with some startups like Helsing becoming the upstarts of the weapons industry, and other legacy companies like Heckler & Koch even experiencing a dramatic reversal of fortunes.
Over 56 percent of respondents polled by the opinion research institute Innofact said private investments in the arms industry were justifiable, in a significant change from 2022 when 53 percent of respondents still had reservations about investing in defence companies. Since then, the prospect of higher government defence spending in Germany and many other countries has driven many stocks to record highs.
German politicians voiced their outrage on Friday after a CNN report detailed an alleged Russian plot to assassinate the head of German arms maker Rheinmetall, Armin Papperger, as a Kremlin spokesman denied any involvement from Moscow.
