Norwegian defence prime Kongsberg Gruppen is targeting annual revenue of Nkr100bn ($10bn) in 2029, from Nkr33bn in 2025.
The company launched the new targets during its Capital Markets Day on 10 June 2026.
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Kongsberg also plans to reach Nkr150bn in 2033 and to generate an operating margin (EBIT) of more than 16%.
The company expects to achieve this revenue growth by fulfilling its existing backlog and securing new core portfolio contracts. It also plans to advance its full spectrum air defence and counter-unmanned aerial systems.
In addition, the company aims to broaden its missile portfolio and introduce unmanned fleets for naval operations above and below water. Kongsberg also intends to pursue dual-use opportunities by applying its underwater and space technologies.
Kongsberg president and CEO Eirik Lie said: “Kongsberg’s products and solutions are making a difference as countries invest to protect their people and critical infrastructure. We are well placed to capture expected growth and outpace overall defence industry growth.
“Our product portfolio fits future needs, and we have the capacity to meet demand. We have a proven capability to scale up production by investing in capacity, building robust supply chains and recruiting people.”
The company anticipates strong demand for air defence systems, strike missiles, and remote weapon station systems, including those designed to counter drones. It also considers itself positioned to expand in newer defence areas, such as underwater operations and defence applications in space.
In the first quarter of fiscal 2026, Kongsberg recorded revenues of Nkr9.23bn, marking a 26% increase from Nkr7.32bn in the same period last year. All divisions recorded growth.
The company recorded order intake of Nkr26.54bn during the quarter, compared to Nkr12.50bn in the same period last year, bringing its order backlog to Nkr152bn.
In February this year, Kongsberg also confirmed that it intends to separate Kongsberg Maritime into a publicly traded company, following approval at an extraordinary general meeting on 22 January 2026.
