Threat perceptions in Sweden appear to have changed after the end of the Cold War, when it reduced its armed forces as immediate hostile forces were absent. However, this situation changed in the mid-2000s when Sweden again rearmed its military forces, and in 2022 sent an application to join NATO. This raises the question how threat constructions changes over time, when a small country experiences times of peace, opposed to times of hostilities, and if these constructions have led to any securitizations. Previous research on case studies in securitization show various ways in which it has been conducted, including terms of regional, as well as global threats. Researchers have also examined singular states and actors that have conducted, as well as been affected by securitization in varying forms. What appears to be less researched in this area, however, is a comparative case study of how threat constructions changes over time in a singular state. This thesis contributes to the study of securitization on empirical studies, by comparing how Sweden constructs threats between the disarmament in the early 2000s and the application to join NATO in 2022.The thesis finds that threat constructions in Sweden varied depending on the context. In the light of globalization, threat presentations primarily focused on international and global matters, as well as defending core beliefs. Later in 2022, focus changed to the immediate region and national matters considering the invasion of Ukraine by Russia. It further finds by analysis of the speech act, that the actors did not conduct any securitizations, because of the lack of presented credible extraordinary means.