Rheinmetall will hold a 60 per cent majority stake in the joint venture, while ICEYE will own 40 per cent. The memorandum of understanding was signed on 8 May 2025, and the formation of the company is still subject to final agreements and regulatory approvals.
The joint venture will initially focus on the production of Synthetic Aperture Radar (SAR) satellites, followed by the development of additional space solutions. The production activities will be based at Rheinmetall’s Neuss site, with operations expected to commence in the second quarter of 2026.
“With the establishment of the new joint venture, we are making further inroads into the space domain,” said Armin Papperger, CEO of Rheinmetall AG. “We are thus not only responding to the increased demand for space-based reconnaissance capabilities among armed and security forces worldwide, but also contributing to the preservation and expansion of Germany as a centre of technology. Our highly qualified colleagues at the Neuss site are being given a promising new perspective for the future. We are delighted to expand our cooperation with our proven partner ICEYE.”
Rafal Modrzewski, CEO and Co-founder of ICEYE, expressed enthusiasm about the collaboration: “ICEYE aims to be the primary provider of critical infrastructure for intelligence, surveillance, and reconnaissance (ISR) to allied nations. We are excited to deepen our strategic collaboration with Rheinmetall by establishing a joint venture. This joint venture further strengthens our focus on developing space-based technology for the needs of global defence markets and securing sovereign defence capabilities for Europe.”
SAR satellites offer significant advantages over conventional satellites, as they are capable of generating high-resolution images irrespective of weather conditions or time of day. These images are detailed enough to identify even small objects on the ground, providing essential support in surveillance, reconnaissance, and battlefield positioning.
The joint venture builds on Rheinmetall’s previous engagements in space technology. In 2024, Rheinmetall announced its participation in the world’s largest fleet of radar reconnaissance satellites and secured exclusive rights to market SAR satellites to military and government users in Germany and Hungary. Furthermore, Rheinmetall, in cooperation with ICEYE, supported Ukraine’s need for SAR satellite reconnaissance capabilities, facilitated by the German government.
ICEYE, renowned for operating the world’s largest SAR satellite constellation, provides persistent monitoring capabilities and near real-time data, even in challenging conditions. The company is recognised for its contributions to defence, intelligence, maritime monitoring, and disaster response across its global offices, including locations in Finland, Poland, Spain, the UK, and the US.
