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1.
Today's armed forces of Germany, consists et al. of the branches Heer (army), Marine (navy) and Luftwaffe (air force). Sometimes mistaken for the Wehrmacht.
Recruiter: "So you're still thinking about joining the Corps?"
Hans: "Actually I'm plannning on going for the Bundeswehr."
by lacroix March 10, 2006
 
2.
The Army of the Federal Republic of Germany.

Literally, Federal Defense.
Did you see that yesterday?
What happened?
Some terroristed hijacked a flight and the Bundeswehr went in and cleaned house.
by Joseph Lotta June 26, 2006