KONGSBERG reported impressive revenue growth of 31 percent in the second quarter compared to the same period in 2025. Profitability also saw a significant boost, with EBIT rising by 49 percent, due to increased volumes and solid project execution across various sectors. Key contributors to this performance included substantial revenue increases from major air defense, counter-drone, and missile programs, while activity levels remained robust across all three divisions.
During the Capital Markets Day on June 10, KONGSBERG announced ambitious financial targets, aiming to triple revenues to NOK 100 billion by 2029 and NOK 150 billion by 2033. The company is also targeting an operating margin of at least 16 percent over the same period.
The company’s order backlog and intake for the second quarter reflect promising growth prospects in core product areas like missiles, air defense systems, and weapon stations. The quarter was marked by several significant contract awards. There was a notable increase in activity related to the Joint Strike Missile (JSM), with heightened sales to both the United States and Germany, while Canada has become the sixth nation to select the JSM. Additionally, KONGSBERG announced a substantial agreement with Raytheon for the delivery of NASAMS air defense systems to Kuwait, with order intake to be recognized upon contract finalization.
In addition to growth in its core portfolio, KONGSBERG is strategically positioned in what it terms the defence industry’s new technological frontiers, including space and subsea operations. The company secured several new contracts in the second quarter, covering the protection of critical subsea infrastructure.
There continues to be surging demand for autonomous underwater vehicles (AUVs) from the HUGIN family, with interests rising in both civilian and military markets, including from the U.S. Navy.
In early July, high-level discussions took place at the NATO Summit in Ankara, Türkiye, where industry leaders, defence ministers, and heads of state convened. The focus on enhancing cooperation between nations through joint procurement programs and harmonization of systems is viewed positively by KONGSBERG. Substantial investments in national defence capabilities were announced by several countries, including Canada’s selection of the 212CD submarine, a project where KONGSBERG is a key supplier, and Belgium’s cooperation agreement with the Netherlands for NASAMS systems.
The collective messages from the NATO Summit underscored Europe’s ongoing commitment to enhancing its defence capabilities and the growing need for increased industrial capacity. The conflict in Ukraine highlights the critical importance of air defense systems, missile capabilities, and the production of missiles at scale.
KONGSBERG completed the acquisition of Zone 5 Technologies on June 9, which bolsters its product offerings. This acquisition provides a range of solutions, from advanced missile systems to products optimized for high-volume production. The integration of cutting-edge technology with scalable manufacturing, along with expertise in both civilian technology development and defence applications, positions KONGSBERG uniquely within the industry.
With a robust order backlog of NOK 158 billion, KONGSBERG is well-prepared for future growth. In partnership with suppliers, the company is equipped to meet both its current backlog and anticipated future demand.
Geopolitical instability and conflict continue to shape the global landscape, emphasizing the critical mission KONGSBERG undertakes in safeguarding national security, protecting critical infrastructure, and enhancing societal resilience.
