Rheinmetall Secures Five-Figure 155mm Shell Order as Order Book Tops €80 Billion

Rheinmetall wins a five-figure 155mm artillery shell order worth low triple-digit millions of euros, with deliveries set to finish in 2027.

Rheinmetall has added another sizeable munitions contract to its books, with an international customer placing an order for a five-figure quantity of 155-millimetre artillery shells. The Düsseldorf-based defence group put the contract value in the low triple-digit millions of euros, with deliveries scheduled to wrap up in 2027.

The order was booked in the current third quarter of 2026, and production of the shells is already under way, according to the company.

The deal slots into a broader surge in demand for standard-calibre ammunition as Western armed forces replenish depleted stockpiles and European procurement programmes gather pace. That pipeline of work is keeping Rheinmetall's shell production lines committed well into next year and beyond.

Order Book Passes €80 Billion Mark

The steady flow of new business underpins momentum that was already visible in the second quarter of 2026, when Rheinmetall lifted revenue by 69% to €3.289 billion. Operating profit for the period came in at €562 million, while the order backlog swelled past €80 billion by the middle of the year. Munitions manufacturing and land systems remain the twin engines of that expansion, helped along by rising defence budgets across Europe.

Recent weeks have brought a string of further contract wins. On 26 August, the Bundeswehr's procurement office for infrastructure, environmental protection and services called off an order for a modular deployment camp capable of housing up to 2,000 soldiers in Lithuania — a project budgeted at €250 million for the build-out phase plus €40 million in annual operating costs.

Overseas, Rheinmetall Canada secured a supply agreement in early September for spare components for the US Navy's mobile launcher systems, a deal worth a single-digit million-euro amount with deliveries running through the end of 2028.

North American and European Programmes Advance

Beyond conventional ammunition, the group has logged progress in specialised technology segments. American Rheinmetall was selected to equip the U.S. Marine Corps with autonomous unmanned ground vehicles based on the Mission Master SP platform, while a separate contract will see the company supply spare parts for mobile ground launch systems to the U.S. Navy.

On the European side, Rheinmetall cleared a regulatory hurdle for its LUNA NG unmanned reconnaissance system, which received preliminary type approval from the relevant authorities.

Kassel-Calden Hub Takes Shape

Rheinmetall is also pushing ahead with an expansion of its industrial footprint. At Kassel-Calden airport in Hesse, the company is planning a new logistics and technology centre, with investment earmarked in the triple-digit millions of euros.

Investor Calendar Fills Up

Management will face investors at several events in the coming days. Rheinmetall is due to take part in the Morgan Stanley Laguna Conference on Wednesday, followed next week by presentations at the joint Berenberg and Goldman Sachs conference on 23 September and an investor meeting hosted by Baader Bank on 24 September. Plant utilisation rates and delivery plans for 2027 are likely to dominate those discussions.

The stock drew modest support from the latest order news. Rheinmetall shares closed yesterday at €998.00, up 0.7%, though the picture over the longer term remains subdued: the equity has shed 36% since the start of the year. The company's market capitalisation stands at €46.31 billion.