Defense contractor Rheinmetall is expanding its operations and will soon begin manufacturing ballistic missiles. The Düsseldorf-based company announced on Monday the establishment of a joint venture with European missile manufacturer Destinus, headquartered in the Netherlands. "This will manufacture, market and deliver advanced rocket systems. These include cruise missiles and ballistic rocket artillery," Rheinmetall stated.
Destinus reports being a major supplier to the Ukrainian army and already operates an established serial production program in Europe for more than 2,000 cruise missile systems per year. According to Rheinmetall, conflicts in Ukraine and the Middle East demonstrate "that demand for scalable attack systems is no longer measured in limited quantities." The requirement is for "potentially tens of thousands" of systems annually.
"With this joint venture, Rheinmetall and Destinus aim to close the gap between the requirements of Europe and Ukraine and the capabilities of the European defense industry - and to do so at large scale and at industrial pace," the two companies explain. Rheinmetall anticipates "a short-term market opportunity in the range of hundreds of millions of euros and long-term potential in the low billion range."
The new company "Rheinmetall Destinus Strike Systems" is scheduled to launch in the second half of 2026, subject to necessary approvals. Rheinmetall will hold 51 percent and Destinus 49 percent of the shares.
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