Rheinmetall and ICEYE are intensifying their cooperation and the two companies intend to establish a joint venture (JV) for satellite production, with an MoU signed by both firms to this effect on May 8, 2025.
Rheinmetall is to be the majority shareholder in the new joint venture named Rheinmetall ICEYE Space Solutions, with 60 percent of the shares, while ICEYE will hold 40 percent. The foundation is still subject to definitive agreements and official approvals.
As part of a Rheinmetall Space Cluster in Germany, Rheinmetall ICEYE Space Solutions is to manufacture satellites, starting with Synthetic Aperture Radar (SAR) satellites and subsequently other space solutions. Production is to take place at the Neuss site, among others, and is scheduled to begin in the second quarter of 2026.
In September of 2024, Rheinmetall and ICEYE had further intensified their cooperation, with Rheinmetall securing exclusive rights to market the SAR satellites to military and government end users in the German and Hungarian markets. The first major milestone in the cooperation between Rheinmetall and ICEYE was reached in November of 2024. To meet the Ukraine’s urgent need for SAR imaging satellite reconnaissance capabilities, the two companies had signed a contract with the support of the German government. The agreement extends the SAR data and other support that Ukraine received from ICEYE during the war.