Orders of the Rheinmetall concern are growing: the EU is increasing military spending

Rheinmetall AG's sales increased by a third to $2.6 billion in the three months to September. This was due to increased military spending in Europe, which led to increased demand for armored vehicles, ammunition and air defense systems. This information is reported by Economic Truth with reference to Bloomberg.

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Russian aggression in Ukraine and US doubts about its commitments to NATO have also led to an increase in arms orders. In the third quarter, the company received orders worth 51.9 billion euros, an increase of 41%.

NATO Secretary General Mark Rutte said that Rheinmetall is part of two joint ventures in Ukraine – a tank production and repair center and an ammunition production plant. The latter is nearing completion.

After Donald Trump won the US presidential election, shares of Rheinmetall and other European defense manufacturers rose. Trump demanded more defense spending from European countries or he threatened to withdraw from the military alliance with Europe.