Norwegian defense company Kongsberg opened a new missile factory in Norway on June 20 amid rising global tensions and soaring demand from countries worldwide.
The $61 million facility in the town with which the company shares its name will produce the company's Naval Strike Missile (NSM) and Joint Strike Missile (JSM).
"Our new missile production facility directly addresses the strong and long-term demand for our unique technology and the critical need to strengthen collective defense capabilities," Kongsberg CEO Geir Haoy said in a statement.
"When we decided to invest in a new missile production facility, we already saw significant demand from current and new customers.
"The present geopolitical situation has heightened the need for our defense capabilities and technology even further – both in Norway and internationally."
The war in Ukraine and Russia's ongoing threats of escalation against the West mean many countries are upping defense spending.
More than 20 NATO member states will hit or surpass the bloc's target of allocating at least 2% of GDP to defense spending this year, up from fewer than 10 five years ago.
Air defense systems are in high demand, particularly with many countries sending units to Ukraine, but the new Kongsberg factory demonstrates the increased demand for other forms of weapons.
Kongsberg's NSM is an anti-ship missile first deployed in 2012 by the Norwegian Navy and is also used by 14 countries, including the U.S., Poland, Germany, and the U.K.
The JSM is a cruise missile employed by F-35 fighter jets flown by Norway, Japan, and the U.S.
Chris York
(Updated: )
