Nice bikes, Steyr bicycles have a good reputation for quality and durability. They were called "Waffenrad" (roughly: "Weapon bicycle"). Other than what one may think, the name does not derive from military use, but simply because they were fabricated (first under english license by Swift/Coventry) at the "Österreichische Waffenfabriks-Gesellschaft" to use manufacturing capacities surplus to requirements in peacetime. reknowned weapons designer Mannlicher worked there.
Other than the martial logo, there is no connection to anything warfare.
Other companies have a similar history (think BSA), i guess it just made sense from a fabrication point of view, similar skills, machines and materials...
This company later became Steyr, merged with Daimler-Puch to form "Steyr Daimler Puch" and survives today as part of automotive supplier giant "Magna". The bicycle production went to Piaggio in the 80ies.
Especially in Austria, the term "Waffenrad" is proverbial for quality and part of the popular culture.
Here is a catalogue from 1936:
https://schlotforum.files.wordpress....nrad-19361.pdf
Funny your example would sport both the "made in austria" and "made in germany" labels. Maybe the latter just meant the "Pletscherplatte" (which is a swiss design

)