German arms manufacturer Rheinmetall aims to secure sales worth up to 50 billion euros by the year 2030, as revealed by its CEO on German television.
Rheinmetall, a leading German defence company, has unveiled an ambitious growth strategy with a goal to reach sales between €40-€50 billion by 2030, accompanied by a projected profit of nearly €10 billion. This bold move is driven by the company's recent impressive growth, with revenue nearly doubling between 2018 and 2023 [5].
To support this expansion, Rheinmetall plans to significantly increase its workforce from 40,000 to 70,000 employees within the next 2-3 years [1]. This substantial workforce growth aligns with the company's aim to scale up operations and meet the demand associated with the projected growth in sales and production capacity [1][2][3][4].
The strategy is underpinned by the company's continued rapid growth in the defence sector, where Rheinmetall has outpaced competitors with around 80% revenue growth from 2018 to 2023. The growth is facilitated by bold investment initiatives to expand industrial capacity and capabilities [5].
The CEO of Rheinmetall, Armin Papperger, expects a profit of €9.5 billion by 2030. The goal for Rheinmetall's sales growth, in US dollars, is an increase of approximately $10.6 billion from its current sales. Under Armin Papperger's leadership, Rheinmetall is targeting a workforce expansion of around 87.6% by 2030, with the projected increase in employee count representing a 75% rise from its current workforce [1].
This growth strategy involves a powerful combination of aggressive revenue targets, heavy investment, and workforce expansion. Rheinmetall aims to become Europe's top defence industrial group by 2030 through scaling sales up to €50 billion and growing personnel to 70,000 in the near term [5][1].
The current exchange rate is $1 = €0.8469. Therefore, Rheinmetall's turnover growth target, in US dollars, is approximately between $54.3 billion and $63.9 billion by 2030. Armin Papperger's goal for Rheinmetall's employee count is between 135,760 and 226,320 within the next 2-3 years.
This ambitious growth strategy underscores Rheinmetall's commitment to maintaining its position as a leading player in the defence industry and its ambition to drive innovation and market reach in the sector.
Rheinmetall's growth strategy encompasses increasing its workforce to align with the expansion of operations, aiming to have 70,000 employees by the next 2-3 years. This business growth is also reflected in the finance sector, with Rheinmetall targeting sales between €40-€50 billion by 2030 and aiming for a profit of nearly €10 billion.
