As 2024 came to an end, the German arms contractor Rheinmetall was toasting an order book that had reached a record €55 billion ($63 billion). In five years’ time, that sum will look like pocket change, provided its CEO’s ambitions come anywhere close to being realized.
Armin Papperger, Rheinmetall’s CEO, is bullish on the company’s outlook as it rides a wave of European rearmament. Speaking to German outlet Handelsblatt, Papperger said he expected orders to hit €300 billion ($340 billion) in the next five years, equivalent to around a 450% increase. Meanwhile, he forecasts U.S. sales to double from the current figure of €1 billion ($1.1 billion) over that time period.
