Rheinmetall CEO Armin Papperger does not expect the war in Ukraine to end by 2026. In his assessment, Russia is not interested in this. Amid the war, the arms conglomerate's revenue has increased by 47% over the year.
The CEO of the German defense conglomerate Rheinmetall, Armin Papperger, believes that the war in Ukraine will not end by 2026. He expressed this opinion in an interview with the Berlin media platform Table Media, as reported on its website on Monday, February 16, according to DW.
Papperger justified his position by stating that "Russia is not interested in ending the war." In this regard, he emphasized the need for continued support for Ukraine, noting that his company is ready to supply additional military equipment to Kyiv.
"We can help in many areas. At the moment, we are producing more ammunition than is stipulated in the contracts signed with Ukraine," Papperger said.
He added that "in some areas, funding for this production for the Armed Forces of Ukraine has not yet been secured." According to the head of Rheinmetall, the conglomerate could supply Kyiv with more "air defense systems, ammunition, and even more tanks," as well as drones.
The War in Ukraine Has Led to Increased Revenue for Rheinmetall
According to a report by the Stockholm International Peace Research Institute (SIPRI), the revenue of the 100 largest defense companies in the world from arms sales and military services increased by 5.9% in 2024, reaching a record $679 billion (€572 billion). The authors attribute this in part to the ongoing war between Russia and Ukraine.
German arms manufacturers demonstrated one of the most significant revenue growth rates in 2024, at 36%. The only country with a faster growth rate was Japan, at 40%. Four German companies made it into the global top 100, with Rheinmetall being the leader. With military sales revenue of €8.2 billion (up 47% year-on-year), it ranked 20th overall.
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