Rheinmetall's €73 Billion Order Book: How Much NATO's Spending Spree Is Already Locked In

German defence firm Rheinmetall's backlog hit €73 billion in early 2026, up from €63 billion months earlier, as NATO nations commit to higher spending through 2035. The company expects 40–45% sales growth this year. The real question: how much of the coming decade's rearmament is already under contract versus still up for grabs.