Germany's Rheinmetall displays the Lynx Skyranger 35 short range air defense system at DSEI 2025 (Tim Martin/Breaking Defense)
BELFAST — German manufacturer Rheinmetall reported strong sales of €1.9 billion ($2.2 billion) for Q1 2026, an eight percent year-on-year uplift, and, for the first time, the firm also shared figures for its naval systems division after its recent expansion into the maritime market.
“The technology group’s order books remain at record levels,” said the Dusseldorf-based firm in a Thursday statement announcing the quarterly results. It also predicted “significant growth acceleration” for Q2 in anticipation of “large-volume” naval and automotive-based orders.
After expanding into the maritime domain by completing the acquisition of local shipbuilder Naval Vessels Luerssen (NVL), Rheinmetall said that the company’s new naval systems department has recorded an order backlog of €5.5 billion. It noted, however, that because of “the initial consolidation at the end of February, the quarterly figures only include one month of [naval system] operations.”
Upon formally closing on the NVL takeover, Rheinmetall stated it planned on developing and producing “state-of-the-art navy and coastguard vessels, as well as maritime autonomous surface systems.” Both sides agreed not to disclose the value of the purchase.
