On the historic site of the Heeresversuchsanstalt, the Historisch-Technische Museum Peenemünde has established its exhibition spaces in the Bunkerwarte and on the grounds of the former power plant on the island of Usedom. Since 1991 the museum has documented the history of the Heeresversuchsanstalt Peenemünde (HVP) and the Luftwaffe testing facility "Peenemünde-West," with a focus on the rockets and missiles developed between 1936 and 1945.
Operations began on 9 May 1991 as a legally non-independent municipal enterprise under the name Historisch-Technisches Informationszentrum (HTI) of the municipality of Peenemünde. At the beginning of 2010 the museum’s operations were transferred to Historisch-Technisches Museum Peenemünde GmbH.
The first presentation in the Bunkerwarte was titled "Peenemünde – Birthplace of Space Travel" and attracted a broad audience. A planned commemorative event in October 1992 sparked a public debate that led to a scholarly examination of the test facilities. On this basis, in 1996 the state commissioned an external project group to reconceptualize a more comprehensive permanent exhibition. The resulting display, "Peenemünde – Myth and History of the Rocket, 1923 to 1989," opened in 2000/2001 and can be seen on two floors of the switch‑house annex of the former power plant.
The exhibition in the power plant combines the history of technology with remembrance of the victims. Exhibits, documents and films address the close ties between the rocket developers — including Wernher von Braun — and the authorities of the time, as well as the military commission to develop weapons of war. Building on experiences from Peenemünde, former staff later contributed to the development of the Saturn V launch vehicle for NASA. The exhibition also examines the international use of the technical knowledge by the victorious powers and shows the role of Peenemünde specialists in the USA, the USSR, Great Britain and France.
A detailed chronology section is devoted to the living and working conditions of forced labourers and commemorates the concentration camp inmates who worked under inhumane conditions on the "wonder weapons." The nearby chapel dating from 1876 was faithfully reconstructed in the 1990s after decades of neglect and serves as a place of remembrance.
Since 2012 an exhibition in the boiler house has presented the history of the power plant up to 1990; since May 2015 a glass lift has provided access to a viewing platform on the roof. In addition to the permanent exhibition, the museum presents annually changing special exhibitions. As of 2025 more than 6.5 million visitors have visited the museum; a new concept for the permanent exhibition is being planned.
In the open‑air area there are reconstructions of the Fieseler Fi 103 and the A4. Across the entire site the museum operates the "Denkmal‑Landschaft Peenemünde," a roughly 25 km circular trail with 23 information stations that leads to historic locations such as the ruins of the oxygen plant in Peenemünde‑Dorf, former forced labour camps and stops of the Peenemünder Werkbahn. Most of the sites presented are freely accessible; some were uncovered in cooperation with young people as part of international encounters.