OHB Pursues German-Japanese Space Safety Pact and Bundeswehr Constellation Bid While ESA Deal Anchors the Story

OHB SE is spreading its bets across civil and military space, pairing a fresh partnership with Japan's Astroscale Holdings on orbital services with a joint bid alongside Rheinmetall for a satellite communications constellation. The two moves point in the same strategic direction — deeper involvement in security-related space work — but neither yet carries a confirmed order.

The Astroscale agreement, announced on 28 October at the German-Japanese economic summit in Tokyo, commits the two companies to examining joint opportunities in in-orbit services, space situational awareness and space security. Astroscale UK and OHB are expected to be at the centre of any collaboration. No specific orders or contract values were disclosed; the memorandum sets out only a review of possible cooperation in those fields.

A 25% Stake to Bolster Satellite Communications

Alongside the partnership, OHB has flagged a capital increase through which it intends to take a 25% holding in MediaMobil Communication. The stake is meant to strengthen OHB's own satellite communications capabilities — a capability-building move, distinct from the Astroscale memorandum, which concerns possible joint activities.

Ownership at OHB remains in familiar hands. The Fuchs family stays the majority shareholder, while KKR has held a minority position through Orchid Lux HoldCo S.à r.l. since 2023. During the June capital increase, KKR sold existing shares, with the proceeds coming from new investors.

Shares in OHB were down 5.6% on the day, a negative counterpoint to the expansion plans in cooperation and satellite communications.

Rheinmetall Bid Targets a EUR 35 Billion Framework

Sabine von der Recke, a member of OHB's management board, told the Weser-Kurier that the company is bidding jointly with Rheinmetall for a satellite communications constellation, with further offers planned for announced Bundeswehr programmes. Around EUR 35 billion has been earmarked for military space infrastructure, she said — a figure that describes the planned financial framework for the infrastructure, not an order volume for OHB. No share of that sum can be inferred for the company.

That distinction matters for how the bid should be read. The political funding envelope indicates the scale of the potential market; only concrete awards would turn it into firm revenue for OHB. The announced bids are a business opportunity, not secured income, and no additional contract wins have been confirmed.

ESA Sentinel-3 Order Provides a Firm Anchor

Against those open-ended prospects sits a confirmed award: the European Space Agency has tapped OHB System as prime contractor, leading a European industrial consortium, to develop the next generation of Sentinel-3 topography satellites for the Copernicus Earth observation programme. The contract is worth more than EUR 554 million.

That civil mission gives investors a tangible reference point when weighing the military ambitions. With ESA, an order has already been placed; on the Bundeswehr side, bids and planned offers are still at the starting line. The thematic link between the two strands is protection as much as construction — the Astroscale tie-up concerns safeguarding critical space infrastructure, not merely building it, though its provisional character leaves no specific joint order in view.

The next scheduled reporting date is 12 November 2026, when OHB intends to publish its nine-month figures for 2026.