A major Norwegian defence procurement project takes decades from project initiation to the desired military capability is delivered and has reached full operational capability. The Norwegian Armed Forces’ primary mission is to maintain a credible deterrence and prevent armed conflicts arising, meaning that the capability acquired through military procurement projects must play into future general deterrence. Do Norway’s strategic military capability procurement projects contribute to a credible and capable deterrence? The purpose of this study is to gain a deeper understanding of the deterrence potential of two chosen Norwegian military procurement projects of strategic importance. The capabilities studied are the acquisition of the US fifth generation fighter, F-35 Lightning II and the 212CD submarine to be designed and built by Germany. The two projects have a combined estimated investment cost of 113 billion NOK. Deterrence is a large area in social science and the discipline of War Studies. This study applies a deterrence theory lens, primarily based on the conclusion in Zagare’s and Kilgour’s perfect deterrence theory regarding the importance of capable and credible threats, operationalised through Dalsjö’s five dimensions of threshold defence. The analysis identifies a clear credibility issue with one of the projects and the paradox that cost saving decisions intended to ensure operational availability and increase credibility also make the capability more vulnerable and less credible due to lack of redundancy.