Rheinmetall and MBDA secured a German military contract to develop a high-energy laser weapon system for the navy. The deal is valued in the mid three-digit million-euro range. The system is scheduled to be operational by 2029.
Rheinmetall also extended a framework agreement with RENK for KF41 Lynx vehicle propulsion systems. This contract is valued at more than €270 million.
Rheinmetall shares fell nearly 4% on Thursday despite the new contracts. The decline followed a broader selloff in the European defense sector after the recent NATO summit. Analysts indicate investors are prioritizing contract execution over general political defense spending commitments.