The Norwegian defence industry had a turnover of 46.4 billion Norwegian kroner in 2024 – an increase of 34 percent compared to the previous year. This is shown by the annual statistics from the Norwegian Defence Research Establishment (FFI), which are produced on behalf of Norway's Ministry of Defence and the industry association Norwegian Defence and Security Industries Association (FSi).
The Norwegian export of defence materiel grew by 40 percent to 18.8 billion kroner, of which nearly one billion went to Ukraine. The United States remained the largest recipient country, followed by several other NATO countries.
At the same time, investments in research and development (R&D) increased significantly. Defence-related R&D rose by 87 percent during the year, with self-financed R&D increasing by 77 percent and externally financed by 92 percent. This indicates a clear trend towards increased technology investment.
The order backlog in the industry reached record levels, amounting to over 141 billion kroner, more than three times the annual turnover. The four largest companies accounted for 70 percent of the total defence turnover. Employment also grew significantly.
This year's report is based on data from 91 companies, which is 21 more than the previous year. According to FFI, the development is a clear sign that the industry is growing in both breadth and depth, with larger exports, higher R&D investments, and increased international integration.