From MoneyWeek · · 1m 40s
Kongsberg Benefits from Rising Defence Spending
Norwegian arms firm Kongsberg Gruppen sees surge in orders as NATO allies boost military spending.
In brief
Norwegian arms firm Kongsberg Gruppen sees surge in orders as NATO allies boost military spending. Kongsberg Gruppen's order backlog reached NKr157 billion as NATO allies increased defense spending by $139 billion in 2025, with contracts for missiles and counter-drone systems driving growth. Originally reported by…
Kongsberg Gruppen Order Backlog
Norwegian arms manufacturer Kongsberg Gruppen has a NKr157 billion order backlog as of 2026 financial year-end.
NATO Allies Boost Defence Spending
Nato allies and Canada invested over $139 billion in core defence requirements and pledged $70 billion for Ukraine military equipment in 2026.
Kongsberg's Strategic Shift
Kongsberg spun off its maritime division in February 2026 to focus on higher-growth divisions including defence systems, missiles and aerostructures.
Acquisitions Drive Growth
Kongsberg acquired Zone 5 Technologies in June 2026 for affordable mass-producible munitions and Sonatech for underwater acoustics technology.
US Contract Wins
Kongsberg won a $100 million US Air Force contract for stealth air-to-surface Joint Strike Missiles (JSMs) with deliveries up to 2030.
Strong Q2 Results
Kongsberg's Q2 2026 results showed 31% revenue growth to NKr10.4 billion with 48.9% higher Ebit to NKr1.67bn.
New Production Facilities
Kongsberg plans new factories in Australia and the US for missile production, operational by late 2027 with full-rate production by 2028.
2029 Revenue Target
Kongsberg aims for NKr100 billion revenue by 2029, 2.3 times 2026 revenue, rising to NKr150 billion by 2033.
Poland's Counter-Drone Contract
Kongsberg signed a NKr16 billion contract with Poland in January 2026 for counter-drone batteries under East Shield initiative.
The short version
Kongsberg Gruppen's order backlog reached NKr157 billion as NATO allies increased defense spending by $139 billion in 2025, with contracts for missiles and counter-drone systems driving growth.
