German defense giant Rheinmetall and Finnish company ICEYE, known for its synthetic aperture radar (SAR) satellites, are joining forces to create a new company, Rheinmetall ICEYE Space Solutions GmbH. The goal is to strengthen European capabilities in space intelligence. This was reported by DPA, writes UNN.
Details
As Rheinmetall announced, the new enterprise will be located in Neuss near Düsseldorf, where one of the company's automotive plants will be converted for the production of defense space technology.
In the ownership structure, Rheinmetall will own 60% of the shares, while ICEYE will own 40%. Production is scheduled to start this year, and the first SAR satellites are expected in 2026.
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SAR technology allows for high-quality radar images even in cloudy conditions or at night, making such satellites indispensable for military intelligence and monitoring crisis regions.
ICEYE, which employs about 700 people worldwide, already provides its satellites to Ukraine in the war against Russia. Cooperation with Rheinmetall, which employs about 40,000 people, opens the way to scaling production and expanding the market.
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