Rheinmetall and Leonardo's agreement seen as key to EU defence consolidation

Rheinmetall and Leonardo's joint venture addresses a 50 billion euro European defence market. The Ukraine conflict accelerates consolidation. Germany considers Carlyle for Thyssenkrupp's naval division. Executives Papperger and Cingolani are optimistic. The venture develops the Italian Army's Main Battle Tank and Armoured Infantry Combat System, aligning with pan-European consortia goals, headquartered in Italy, for land defence systems.