Missile demand keeps Kongsberg on rapid growth trajectory

Kongsberg maintained its rapid growth in the second quarter as rising demand for missile systems continued to drive revenue, orders and profitability.

The Norwegian defence group increased second-quarter revenue by 31 per cent year-on-year to NOK 10.4 billion, while EBIT rose 49 per cent to NOK 1.67 billion. Revenue for the first six months of the year reached NOK 19.6 billion, up 29 per cent from the same period in 2025.

At the same time, the company secured NOK 17.1 billion in new orders during the quarter, lifting its order backlog to a record NOK 157.5 billion.

- Kongsberg delivered a strong second quarter, characterised by revenue growth and solid profitability, chief executive Eirik Lie is quoted in the quarterly report.

The results broadly confirm the growth trajectory management outlined during its Capital Markets Day in June rather than signalling a shift in strategy.

As earlier reported by Defence Nordic, Kongsberg raised its long-term revenue ambition to NOK 100 billion by 2029 and NOK 150 billion by 2033, identifying missiles, air defence, autonomy and space as its principal growth drivers.

JSM momentum continues

Missiles remained the dominant commercial story during the quarter.

Kongsberg secured three major Joint Strike Missile (JSM) contracts, including NOK 4.7 billion from Canada, NOK 3.5 billion from Germany and NOK 2.7 billion from the US Air Force.

As earlier reported by Defence Nordic, Canada became the sixth nation to adopt the JSM, while Germany expanded its procurement after selecting the missile last year and the latest US order extends deliveries through 2029.

The growing order backlog continues to shift Kongsberg's focus from generating demand towards increasing industrial capacity.

Nearly 60 per cent of the current backlog is scheduled for delivery from 2028 onwards, underlining the long production horizon across the company's core defence programmes.

During the quarter, Kongsberg also completed its acquisition of California-based Zone 5 Technologies, adding lower-cost missile products designed for high-volume production to complement its existing portfolio.

Beyond missiles, the company highlighted continued demand for autonomous underwater vehicles, critical subsea infrastructure protection and space-related technologies.

With record order visibility and continued demand across its core defence businesses, Kongsberg enters the second half of 2026 with much of the commercial momentum presented at its Capital Markets Day already reflected in its financial performance.