The technology group Rheinmetall and ICEYE have completed the establishment of their joint venture, Rheinmetall ICEYE Space Solutions GmbH, based in Neuss, Germany.

As the majority shareholder, Rheinmetall AG holds 60 percent of the shares in the joint venture, while ICEYE Oy holds 40 per cent.

Just five months after the announcement in May of 2025, the joint venture 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 Ukraine’s defence against Russia.

SAR satellites offer an advantage over conventional satellites as they can generate high-resolution images regardless of weather conditions or time of day.