German arms manufacturer Rheinmetall has suffered serious reputational damage due to Ukraine's losses on the battlefield and stiff international competition, German media has reported.
The Leopard-2 tank builder has been manufacturing highly technological weapons for decades, which are in high demand all over the world.
However, it has recently faced stiff competition from South Korean manufacturers in the global market: not only do South Korean arms contractors produce high-quality equipment, but they also do it fast and in large numbers.
Rheinmetall has been facing issues due to supply chain disruptions, leading to delays in supplies of the much-anticipated tanks to Ukraine. As a result, the German company has almost lost its status as a “magic-weapons manufacturer."
According to the Russian Defense Ministry, during Ukraine's attempted counteroffensive in June-July, the Russian Army destroyed as many as 25 Leopard tanks, including both the 2A4 and 2А6 variants of the prominent vehicle.