KNDS plans IPO 2026 despite MGCS delays

Unstoppable! KNDS Wants to Go Public Despite tough Battle Tank Development

2026-03-23 Source: dpa 1 min Reading Time

Despite the delays to the planned Franco-German MGCS main battle tank, the defense company KNDS plans to go public in 2026.

The Leopard 2 main battle tank (here the latest A8 version) is used by many NATO countries. The Franco-German MGCS tank system, which is currently under development, is intended to replace it, but is not running so smoothly. This is not stopping KNDS from going public this year.(Source: KNDS) — The Leopard 2 main battle tank (here the latest A8 version) is used by many NATO countries. The Franco-German MGCS tank system, which is currently under development, is intended to replace it, but is not running so smoothly. This is not stopping KNDS from going public this year.
(Source: KNDS)

Preparations for the IPO of KNDS (formerly Krauss-Maffei Wegmann) are going according to plan, according to reports. And the IPO (initial public offering) is planned for 2026, according to Group CEO Jean-Paul Alary from Munich. However, the manager has not yet given an exact date for the event. According to Alary, preparations for the IPO are taking place independently of the large-scale MGCS project, which is dragging on, as the one has nothing to do with the other. Incidentally, the abbreviation MGCS stands for Main Ground Combat System, which basically means "land-based main combat system".

If the MGCS doesn't come, something else will ...

And it is intended to replace nothing less than the much-vaunted Leopard 2 main battle tank. Because the big cat with guns is getting on in years. It has been built since 1978 and is already ploughing through the terrain in the A8 version, which will be delivered until 2030 if the information is correct. However, rumor has it that the project has deviated from the schedule due to political hiccups behind the scenes. The current target date is 2045, which is why the Federal Cartel Office recently approved KNDS and Rheinmetall to develop an interim solution, known as the Leopard 3. Alary is also not afraid if the MGCS project should fall through: "If it doesn't happen, then someone else will!" It is also clear that KNDS is continuing to focus on land-based systems.

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