The Raketenpanzerbüchse 54 (popularly known as Panzerschreck) is a heavy AT weapon. Selecting the class/role with the Panzerschreck only provides you with two 88 mm rockets for use, requiring you to seek out ammo when you run dry after each vehicle engagement. The Panzerschreck was a copy of the American bazooka, but made bigger and more deadly to enemy armored vehicles. Historically about 289,151 were made. It had an effective range of 150 meters. Unlike the bazooka the Panzerschreck has a blast shield and the weapon also creates more smoke upon firing.
The Panzerschreck has both pros and cons compared to the Panzerfaust. The disadvantage is the limited number of rockets, meaning you must ensure that your aim is straight. The limited field of view can also make it difficult to acquire a good lead on your target. The upside to the Panzershreck is that the rocket has a flatter trajectory compared to the Panzerfaust, plus additional damage upon hits. The Panzershreck plays well in ambush positions, where the AT weapon can reliably destroy any soft target vehicle even at longer ranges. You should be extremely careful with your limited supply of rockets and only go for shots you are sure will hit.