OHB SE Forges Strategic Alliance to Challenge Airbus for Major Defense Contract

OHB and Rheinmetall team up to bid for the €10B SATCOMBw Stage 4 contract, challenging Airbus. OHB's strong 2026 outlook is fueled by Ariane 6 and a €3.1B order backlog.

The European aerospace and defense landscape is poised for a potential shift as Bremen-based OHB SE takes decisive steps to secure a monumental German military contract. The company has formally confirmed it is in discussions with defense giant Rheinmetall to form a bidding consortium for the "SATCOMBw Stage 4" satellite project, a program valued at up to €10 billion.

A Formidable Consortium Takes Shape

This strategic partnership directly challenges the incumbent, Airbus Defense and Space, which operates the existing precursor systems. Under the proposed alliance, Rheinmetall would act as the systems house, managing military integration, while OHB would be responsible for satellite manufacturing and engineering. A successful bid would be transformative for OHB, representing a contract of unprecedented scale. In preparation for the high-volume production required, the company has already geared up for industrial serial manufacturing at a facility in Schöneck, Saxony.

Operational Momentum and Ambitious Targets

Beyond the prospects in defense, OHB's core operations are providing substantial financial momentum. The successful maiden flight of the Ariane 6 rocket on February 12, 2026, which deployed 32 Amazon satellites, is generating significant revenue. Furthermore, with the full acquisition of supplier MT Aerospace in October 2025, all earnings from the ramp-up of rocket production now flow directly into OHB's consolidated financial statements.

Bolstered by this strong position, management has expressed notable confidence, recently raising its mid-term targets. For the current fiscal year 2026, OHB is projecting total output of €1.4 billion with an EBITDA margin of 11%. The company aims to surpass €2.0 billion in revenue by 2028. This optimism is supported by an order backlog that surged 47% in 2025 to over €3.1 billion.

Upcoming Financials to Provide Validation

Investors will soon receive a key data point to assess these ambitions. OHB is scheduled to release its audited annual financial statements for 2025 on March 19, 2026. While the long-term growth narrative is closely tied to the outcome of the Bundeswehr satellite decision, these forthcoming figures must demonstrate that operational margins are keeping pace with the current revenue expansion.

The impending bid decision represents a critical juncture, potentially redistributing influence within the European defense sector and marking a bold offensive by the OHB-Rheinmetall alliance against the established market leader.