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Kongsberg Q3 orders jump on strong missile, air defence demand - Finance news and analysis from Global Banking & Finance Review
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Kongsberg Q3 orders jump on strong missile, air defence demand

Published by Global Banking & Finance Review

Posted on October 29, 2026

1 min read

· Last updated: October 29, 2026

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Kongsberg Sees Record Q3 Orders on Missile and Air Defence Demand Surge

Record-Breaking Performance and Growth Drivers

Q3 Order Intake and Financial Highlights

Oct 29 (Reuters) - Norwegian defence and technology company Kongsberg Gruppen reported a 145% jump in third-quarter order intake on Thursday, driven by strong demand for missiles, air defence systems and weapon stations.

Orders rose to 23.3 billion Norwegian crowns ($2.52 billion), the company said.

CEO Statement and Growth Outlook

"Strong demand and an order backlog of NOK 174 billion position KONGSBERG well for further growth," CEO Eirik Lie said in a statement.

A record order backlog and investments in production capacity supported the company's growth outlook, the company said.

Market Forces and Strategic Positioning

Impact of European Defence Spending

Kongsberg is benefiting from higher defence spending in Europe as NATO allies rebuild weapons stockpiles and bolster air-defence capabilities in response to Russia's war in Ukraine, driving demand for missiles, air-defence and counter-drone systems.

Long-Term Revenue Targets

Kongsberg said in June it aimed to triple revenue by 2029 and more than quadruple it by 2033, citing increased European defence spending.

Additional Information

($1 = 9.2465 Norwegian crowns)

(Reporting by Marta Frąckowiak in Gdańsk; editing by Matt Scuffham)

Key Takeaways

  • Order intake in Q3 2026 soared 145% year‑on‑year to NOK 23.3 bn, buoyed by strong demand for missiles, air‑defence systems and remote weapon stations. (kommunikasjon.ntb.no)
  • Order backlog reached a record NOK 174.2 bn by the end of Q3, providing substantial visibility and underpinning confidence in future delivery capability. (kommunikasjon.ntb.no)
  • Kongsberg aims to ramp revenue from NOK 33 bn in 2025 to NOK 100 bn by 2029 and NOK 150 bn by 2033, aiming for an EBIT margin above 16%, backed by capacity investments and strategic acquisitions. (kongsberg.com)

References

Frequently Asked Questions

What drove Kongsberg's Q3 order increase?
Strong demand for missiles, air defence systems, and weapon stations boosted Kongsberg’s Q3 orders by 145%.
How much did Kongsberg's order intake rise in Q3?
Orders rose to 23.3 billion Norwegian crowns ($2.52 billion), a 145% increase compared to the previous year.
What is fueling higher demand for Kongsberg's products?
Increased defence spending in Europe, especially due to NATO allies rebuilding weapons stockpiles in response to the war in Ukraine, is driving demand.
What is Kongsberg’s revenue target by 2029?
Kongsberg aims to triple its revenue by 2029 and more than quadruple it by 2033.
What is Kongsberg's current order backlog?
The company reported a record order backlog of NOK 174 billion.

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