As usual, the purpose of this call is to review recent public developments and ensure the messaging is well-aligned. This call does not provide any non-public information, especially not after we have just released the ad hoc statements a couple of minutes ago. We will make the document that I prepared for this call available on our investor relations website in the sections of publications, or it is already available in this section. First, an update on the defense spending. Starting with the macro environment, end of April, the German Finance Ministry published its new budget draft. This suggested a defense budget spend of close to EUR 145 billion for 2027, representing an approximate 21% increase compared to 2026, which further underpins the mid-term visibility in our domestic markets.
A more detailed draft is expected to be published in the coming days before the parliamentary summer recess starts. Trading update on Q2. Moving to Rheinmetall's financial performance. Rheinmetall remains fully on track to achieve the guided quarter-over-quarter growth rate of above 40%. This implies an H1 growth rate of approximately 35%-40%. Key drivers were planned project ramp-ups for several contracts, which had been signed before the war had started, as well as some support from the EUR 100 million coming from Murcia restart and from the Weapons, and the EUR 200 million from trucks and Vehicle Systems. The portfolio optimization continued as planned. The disposal of the Power Systems was signed on June 3rd for consideration of EUR 350 million, with the closing expected in Q4. In connection with this transaction, please be reminded of an additional EUR 200 million non-cash impairment for your financial models.
Next up, I would like to address the cancellation of the F126 frigate program. The German Ministry of Defence issued a press release on June 24th and gave three key reasons for their decisions. First, they want to mitigate further cost overruns that stem from the past. Possible recourse issues with Damen was second. Third, an assumed shorter delivery timeline for the alternative platforms. Rheinmetall is currently assessing the potential implication of the program cancellation for the F126, while the company confirms supply trading update for the second quarter, meeting the expected growth rates. The program cancellation will result in a shortfall of the expected positive Rheinmetall nomination of EUR 20 billion, including F126. Despite strong order momentum in all other segments, including the first order for loitering ammunition in April and the remaining order package under the SAFE regime at the end of May.
In sum, the total Rheinmetall nomination volume is expected to reach low double digits of EUR 1 billion level in the second quarter. The company is currently investigating whether the order cancellation has any additional impact on the full-year guidance and will provide a more detailed update with the Q2 earnings release on August 26. In case that no mitigation measures can be identified, the 2026 revenue impact could reach a level of up to EUR 300 million. The F126 made up less than 3% of the planned group sales in 2030. Update on Arminius. Looking ahead, the approval for the Boxer order is still expected to be around late Q3, early Q4. The presented bid structure consists of two components. The EUR 12.5 billion fixed contract for phase one to be delivered until 2029, and a EUR 25 billion frame contract for phase two until 2035.
This concludes here my information that I have to share. There will be no Q&A. We are entering now into quiet period. I would like to thank you for today. I'm closing this call now. Thank you very much.