Concerns are mounting among cartel experts regarding Rheinmetall’s expanding market power across various segments of the defense industry. According to Rupprecht Podszun, a professor of law at Heinrich-Heine University in Düsseldorf and a member of the Monopoly Commission, the current geopolitical situation-the “turning point”-has placed certain companies in critical, highly profitable positions that could generate intense dependencies over years to come. Podszun added that Rheinmetall has the potential to become akin to the “Google of the defense industry”. He warned that when a company becomes so indispensable, government regulation becomes considerably more complicated.
These concerns are matched by the company’s radical growth. Since the start of Russia’s invasion of Ukraine in 2022, the largest German defense company has grown rapidly. Under CEO Armin Papperger, Rheinmetall reported a doubled turnover to 9.9 billion Euros in 2025. The company, which was primarily known for tanks and ground systems, has aggressively diversified its operations. In early 2026, it acquired the Bremer Marinewerft NVL and began venturing into the construction of satellites and drones.
Market dominance is particularly pronounced in specific areas. Today, the German armed forces reportedly lack genuine alternatives to Rheinmetall in several sectors. The group maintains a commanding market position, especially concerning artillery ammunition. According to reports from the economic magazine “Capital”, Rheinmetall is viewed within the defense industry as both market-dominant and prohibitively expensive, particularly for advanced artillery munitions that are designed to explode in the air rather than at the moment of impact.