Annual Report and Sustainability Report 2021


A good balance between operations, market positioning and new initiatives is important

Strategy and ambitions

KONGSBERG is a world-leading technology company that supplies products and solutions with extreme performance for extreme conditions. An inclusive culture with world-leading expertise, sustainable innovation and partnerships will ensure that our positions in technology continue to deliver sustainable and profitable growth.

KONGSBERG’s deliveries have strategic importance to our customers. Our solutions help meet key societal needs in defence and security, energy, transport, climate and the environment.

KONGSBERG develops technology and solutions where we are either world-leading or have ambition and potential to become world-leading in the long term. To improve and develop our competitive edge, efficient operations, positioning in existing and new markets, and new initiatives are our top priorities. Our business culture is characterised by high ethical standards and integrity, and forms the basis for our strategic decisions and business choices.

KONGSBERG creates value through organic growth and acquisitions. Organic growth is based on development and expansion of existing products, services and market positions as well as the development of new products for new markets.

Sustainability and consideration of the environment, people, society and responsible corporate governance are established and integrated into our business strategy. This is central to both the development of existing positions and new business opportunities. The UN Sustainable Development Goals and the Paris Agreement’s ambition to limit global warming to 1.5 degrees are important drivers of our direction. KONGSBERG wants to contribute to solving the challenges facing society, and with our technology expertise we will deliver sustainable solutions to our customers, across industries. As a technology company, KONGSBERG will create a competitive edge by taking a leading role in the green transition.

KONGSBERG is committed to supporting the Paris Agreement’s aim of net zero greenhouse gas emissions by 2050. By setting clear and ambitious targets for emissions reductions, both in our own business and in our value chain, we want to be at the forefront of both market and regulatory requirements. We do this because we can, we want to and because we believe this is best for the environment, our employees and shareholders. We cooperate with the Science Based Targets initiative, which represents international best practice for the quality assurance of climate-related goals in line with the ambitions of the Paris Agreement.

In order for KONGSBERG to succeed in our ambitions and deliver on our strategy, it is crucial that we retain and attract highly skilled and dedicated people. A central part of our strategy is, therefore, to be an attractive employer. Employee involvement, leadership development and a strong culture where diversity, continuous learning, improvement and development are prioritised, are important for KONGSBERG. 

Overall strategic focus

We must:

  • Develop new business opportunities within the green transition and improve our market position in existing markets.
  • Create long-term value through a combination of organic growth and acquisitions.
  • Have a flexible organisation consisting of people with world-leading skills and expertise.
  • Occupy leading positions within digital solutions in our industrial segments.
  • Prioritise sustainable innovation, technology and solutions in research and development work across the Group to develop a competitive edge.
  • Ensure reductions in emissions in line with the target of net zero by 2050.
  • Foster an inclusive and cooperative working culture characterised by high ethical standards.

Strategic priorities for the Group’s business areas

  • Kongsberg Defence & Aerospace

    Secure strategically important contracts, and achieve growth in selected geographical areas both through our own activities and in collaboration with partners. KONGSBERG will continue to be a strategic partner for Norway, become a leading defence supplier in Northern Europe and strengthen our position in the US. We will identify and develop sustainable solutions that contribute to the green transition and that safeguard our societal role in security and defence.

  • Kongsberg Maritime

    Be a leading global maritime technology supplier, with sustainable innovation directed towards green solutions and groundbreaking concepts. We will help shape the maritime future by developing new opportunities throughout the ocean environment. Continue to increase margins through successful implementation of identified efficiency measures.

  • Kongsberg Digital

    Drive the digital transformation of capital-intensive industries by creating the number-one digital working area. Take the leading position within digitisation of the maritime, energy and renewables industries, with a focus on Vessel Insight, Digital Twin and the Kognifai platform. 

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