In the second quarter, KONGSBERG delivered revenue growth of 31 per cent compared with the same period in 2025. Profitability development was strong, with EBIT increasing by 49 per cent, driven by higher volumes and solid project execution across the company. Performance was particularly supported by revenue growth from major air defence, counter-drone and missile programmes. Activity levels remained high across all three divisions.
At our Capital Markets Day on 10 June, we announced new financial ambitions: KONGSBERG aims to triple revenues to NOK 100 billion by 2029 and to NOK 150 billion by 2033. Over the same period, we target an operating margin of at least 16 percent.
The order backlog and order intake in the second quarter provide strong visibility for growth within our core product areas, including missiles, air defence systems and weapon stations, in the years ahead.
The quarter included several significant contract awards. Activity related to the Joint Strike Missile (JSM) was particularly strong, with increased sales to the United States and Germany, while Canada became the sixth nation to select the JSM. During the quarter, we also announced a significant agreement with Raytheon for the delivery of NASAMS air defence systems to Kuwait. The order intake will be recognised upon contract finalisation.
In addition to growth within our core product portfolio, we are well positioned in what we describe as the defence industry's new technological frontiers: space and subsea operations. It was therefore encouraging that we secured several new contracts during the second quarter, including contracts for the protection of critical subsea infrastructure.
We continue to see growing demand for autonomous underwater vehicles (AUVs) within the HUGIN family, across both civilian and military markets, including from the U.S. Navy.
In early July, industry leaders, defence ministers and heads of state gathered at the NATO Summit in Ankara, Türkiye. The emphasis on closer cooperation between nations through joint procurement programmes and greater harmonisation of systems and solutions is something we view positively. In addition, several countries announced substantial investments in strengthening their national defence capabilities. One example is Canada’s selection of the 212CD submarine, where KONGSBERG is a key supplier. Another was Belgium’s announcement of a cooperation agreement with the Netherlands for the procurement of NASAMS systems.
The messages from the NATO Summit were clear: Europe continues to invest in its defence capabilities, and the need for increased industrial capacity is growing. The war in Ukraine continues to demonstrate the importance of air defence, missile systems and counter-drone capabilities, as well as the critical need for missile production at scale.
The acquisition of Zone 5 Technologies, completed on 9 June, complements our product portfolio. It provides KONGSBERG with a range of solutions spanning from highly advanced missile systems to products designed for high-volume production. The combination of cutting-edge technology and scalable manufacturing, together with expertise spanning both civilian technology development and defence applications, makes KONGSBERG uniquely positioned within our industry.
Strong market demand and an order backlog of NOK 158 billion position us well for further growth. Together with our suppliers, we have the capacity to deliver on our current order backlog and meet future demand.
Geopolitical instability and conflict continue to shape the global landscape and underscore why KONGSBERG exists. Together with our customers and partners, we contribute to safeguarding national security, critical infrastructure and societal resilience.
Download Q2 2026 Report
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