Rheinmetall and ICEYE Establish Joint Venture in Neuss for Satellite Production

German technology group Rheinmetall and Finnish satellite company ICEYE have officially formed a joint venture named Rheinmetall ICEYE Space Solutions GmbH. The new entity will be based in Neuss, Germany, with the objective of manufacturing Synthetic Aperture Radar (SAR) satellites. Rheinmetall holds a 60% majority stake in the joint venture, while ICEYE Oy owns the remaining 40%. The decision to establish the venture was finalized just five months after its initial announcement. Local satellite production is slated to commence in Neuss in 2026. SAR satellites offer a significant advantage over conventional satellites, as they can generate high-resolution images regardless of weather conditions or time of day. This capability provides reliable reconnaissance for defense and security forces. The partnership is expected to bolster Rheinmetall's presence in the space sector. Currently, reconnaissance data from ICEYE's SAR satellites is being utilized to support Ukraine's defense efforts against Russian aggression. Rheinmetall stated that the new joint venture presents promising prospects for employees at the Neuss site, parts of which were recently transitioned from civilian business to the company's military segment.