07/11/2025 | Press release

The technology group Rheinmetall and ICEYE, the global leader in Synthetic Aperture Radar (SAR) satellite operations have established a joint venture called Rheinmetall ICEYE Space Solutions GmbH. The corresponding agreement was signed in Berlin by Armin Papperger, CEO of Rheinmetall AG, and Rafał Modrzewski, CEO and co-founder of ICEYE. Rheinmetall ICEYE Space Solutions GmbH is based in Neuss. As the majority shareholder, Rheinmetall AG holds a 60% of the shares in the joint venture, while ICEYE Oy holds 40%.

Just five months after the announcement in May 2025, the company is now officially established. Rheinmetall ICEYE Space Solutions will commence operations in 2025, with the first satellite to be manufactured locally in 2026. With the establishment of the new joint venture, Rheinmetall is strengthening its activities in the space sector. In recent years, there has been a sharp increase in demand for space-based reconnaissance capabilities among armed forces and security forces worldwide. As part of the cooperation between Rheinmetall and ICEYE, synthetic aperture radar (SAR) satellites are already providing reconnaissance images for the Ukraine's defence against the Russian aggressor.  

SAR satellites offer an advantage over conventional satellites as they can generate high-resolution images regardless of weather conditions or time of day. Parts of Rheinmetall's plant in the Lower-Rhine region have recently been transferred from the civilian Power Systems division to the group's military business. By establishing Rheinmetall ICEYE Space Solutions GmbH, employees at the Neuss site can also look at promising prospects.

About Rheinmetall

Rheinmetall is a leading international systems supplier in the defence industry and at the same time a driver of forward-looking technological and industrial innovations in the civilian markets. With its technologies, products and systems, Rheinmetall creates the indispensable foundation for peace, freedom and sustainable development: security. With currently more than 40,000 employees at 174 locations worldwide, the DAX-listed company generated sales of around €9.8 billion in the 2024 financial year.

About ICEYE 

ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world's largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as defense and intelligence, insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.

ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US. We have more than 900 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.

Media contact: press@iceye.com