1,400 percent increase in the value of Rheinmetall. Why do all armies want their equipment?
A lot is happening in the European arms industry. And even more will happen, as evidenced by the recent tension between the USA and Germany. With increased production, this business becomes even more lucrative, but apart from quantity, it must also be accompanied by appropriate technological quality. The German Rheinmetall undoubtedly has this, which it has proven in its over 100-year history. The company, founded in 1889, started with the production of needles, but over time it evolved and specialized not only in the production of ammunition, but also in advanced, heavy combat equipment and modern electronic warfare solutions.
In each of these categories, Rheinmetall has recently made its presence quite clear. At the turn of April and May it was announced that after increasing ammunition production to 1.1 million artillery shells per year (from a level of only 70,000), the German giant has overtaken the USA in this category. Armin Papperger, CEO of Rheinmetall, confirmed this at an official meeting with the media, during which the scale of production increases in another type of ammunition – medium caliber – was also confirmed. Here are factories instead of 800,000. pieces per year will handle orders for up to 4 million pieces. This also translates into its position as a global leader.
However, the intensification of ammunition production is only one of the areas in which Rheinmetall has been in the news recently. A moment ago, the company also received further funds from the Bundeswehr, this time in the amount of over EUR 1 billion, for the further development of the German super-soldiers project. “Infantry of the future”, as the program is called in the official documentation, under which soldiers will be equipped with the digital IdZ-ES system, is to become a reality between November 2027 and December 2029. The German army will be equipped with an improved version of the solution and, in combination with previous orders and modernization of existing sets, the total number of “super soldiers” is to be 12,000.
The exact scope of the equipment included in the IdZ-ES system is partially confidential. Rheinmetall has been constantly modifying it since 2004 and develops under the name Gladiusstriving to provide soldiers with an information advantage on the battlefield. The heart of the set is a computer that integrates radio communication with the GPS system, which allows you to track the position of allies and enemies in real time on a digital map. The soldier has advanced optics coupled with the helmet, which allows him to aim and shoot from behind cover without exposing himself to enemy fire. The whole is complemented by modular ballistic armor with a central power system that eliminates cable tangles and powers all sensors.
A new generation of military power
However, while Gladius is an impressive solution, and the concept of a “super soldier” transforming from a human on the battlefield into a walking computer connected to a “military network” captures the imagination, Rheinmetall has many more spectacular projects and solutions to its credit. And many of them can be called really “heavy caliber”. We will take a closer look at a few selected ones.
KF51 Panther
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Rheinmetall Defense
We will start with a machine that… has not yet reached the front and is not in active service, but in the eyes of experts – when it does – it will give its owners a huge advantage on the battlefield. The KF51 Pantera is a tank of the future still under developmentwhich in the final, basic version is to be 7.8 m long, 2.5 m high and weigh 59 t. Equipped with a powerful 130 mm caliber gun and a range of up to 500 km, it can carry up to four soldiers on board at the same time, three of whom have at their disposal combat stations equipped with advanced, digitized interfaces and multifunctional screens that give them a 360-degree view of the battlefield. The fourth seat is an optional seat for the operation commander or drone operator.
The latter can also be transported on a tank on a special platform, and when there is a need for protection against drones, the KF51 is equipped with AESA radars and the TAPS system, which specializes in eliminating drones. The Panther is not only supposed to shoot further and more accurately than its predecessors, but above all it will allow you to act much faster, giving the crew access to information and datawhich on the modern front are often worth more than simply thick armor.
KF41 Lynx
KF41 Lynx
Going further – Rheinmetall is also responsible for the KF41 Lynx, i.e. the popular and widely praised Ryś. It is an advanced infantry fighting vehicle it is not only used to transport soldiersbut which, thanks to its modularity and ease of equipment replacement, can play any supporting role on the front – from being a command center, through a tank destroyer, transforming into a mobile air defense system, and ending with an ambulatory vehicle and being a mini-field hospital.
These machines have recently also arrived in Ukraine, where they have proven their usefulness many times. The size of the Lynx varies, of course, depending on the variant, but in its most powerful variant it can reach a weight of up to 50 tons. There can be up to 11 soldiers in total inside (including three of the crew), combat equipment depends on the configuration, but the most common are Lance towers. The technologically advanced armor is also impressive defense systems capable not only of passive protection, but also of actively searching for and eliminating threatssuch as attack drones or anti-tank missiles. And this is before they even approach the vehicle.
Rh-120
Rh-120
Then we have… not a vehicle, but a barrel. And one that has been produced for over 50 years. Its subsequent variants, constantly improved and refined, are now the basis of many tanks in armies around the world, allowing for effective destruction of opponents from long distances, up to 8 km. The Rh-120 was used in the legendary Leopard 2 tanks, but also in the American M1A1 Abrams and Swedish Stridsvagnas. The previously discussed KF51 Pantera will also use this system – specifically, its modified, special version called Rh-130.
PzH 2000
PzH 2000
In the howitzer gun category, Rheinmetall can boast of its participation in the creation of the PzH 2000. The powerful vehicle with equally powerful armament is nearly 12 m long, 3.5 m wide and 3.1 m high. It weighs 55 tons. The key element is, of course, the L52 howitzer gun, which uses 155 mm shells and is largely capable, thanks to technology, of operating autonomously and automatically on the battlefield. The system with which PzH 2000 was equipped they themselves determine the location and method of carrying out the attackso that it not only reaches the goal, but is also as effective as possible. Depending on the variant, you can fire in this way at a distance of 30 to even 60 km.
Mission Master
Mission Master
While being autonomous, Rheinmetall has recently also been investing heavily in the sector of machines that are able to operate completely without human intervention or only with minimal human support. The Mission Master platform deserves special attention here. It's essentially a highly customizable, driving robot that using artificial intelligence and advanced navigation systemsis able to maneuver freely even on very uneven terrain (and in water) – either following another vehicle or soldier, or moving towards a specified point. It is used both in evacuation and transport, but also as combat support – through the use of drones and automatic object recognition systems. Thanks to the use of an electric motor, despite weighing over a ton, it is practically inaudible.
Skynex
Skynex
At the end of this short list, it is also worth noting the Skynex system. It is a comprehensive set of software, sensors, radars, 2D and 3D scanners, as well as effectors (including laser weapons), which allows for the rapid detection and destruction of entire swarms of drones, cruise missiles, and even incoming mortar grenades. For this purpose, it mainly uses 35 mm caliber guns AHEAD intelligent programmable ammunitionwhich explodes just in front of the target, creating a cloud of fragments, effectively “drawing” fire onto itself and thus protecting objects and vehicles located in the defense zone.
Record capitalization and absurd increases for Rheinmetall
The quality and level of advancement of these solutions clearly translates into the interest in Rheinmetall structures among the military. Gigantic army purchases from all over Europe (but not only) led to spectacular increases in recent years, and although the German manufacturer is still not the largest in Europe (this title belongs to the British BAE Systems), it is rapidly approaching the top, and since the outbreak of the war in Ukraine, Rheinmetall's capitalization has increased several times. Previously, at its peak, it amounted to approximately EUR 3.8 billion.
Today, the company's value is EUR 67.7 billion, the price of a single share is EUR 1,421 at the time of writing this material. And in 2025 it was even higher – the shares permanently exceeded EUR 1,500, at the peak it was even EUR 2,000, and the capitalization reached EUR 76.1 billion.
| Year | Capitalization (EUR billion) |
|---|---|
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2020 |
3.5 |
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2021 |
3.8 |
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2022 |
4.5 |
|
2023 |
35.0 |
|
2024 |
55.0 |
|
2025 |
76.1 |
|
2026 |
67.7 |
While the results expected in the first quarter of 2026 were not achieved, there was some correction, but the market still has great hopes for Rheinmetall and expects further dynamic growth. In the context of the launch of funds from the SAFE program in subsequent member states, and thus the inflow new orders to the arms sectorthe chances of returning to the upward trend seem extremely high. Investors are counting especially on contracts resulting from the Polish armament plan, which is the largest single component of this EU instrument.
In the context of Poland, Rheinmetall will certainly not be the main beneficiary of these expenses, but, among others, the partnership with Polska Grupa Zbrojeniowa, signed at the end of 2025, means that some of the orders will be fulfilled more or less directly by Rheinmetall plants, their local branches or using the technology they have developed.
