Lockheed Martin will buy naval defense company Ultra Maritime from private equity firm Advent for $3.45 billion, bolstering its portfolio as global demand for military technology surges.
After the closing of the deal, announced on Monday, Ultra Maritime will become a part of Lockheed's rotary and mission systems, which reported revenue of $17.3 billion in 2025 and employs 35,000 people worldwide.
Sustained conflicts in Ukraine and the Middle East, and US President Donald Trump's $1.5 trillion defense budget request for 2027 are driving up demand for weapons and military technology, pushing defense contractors to expand their capabilities.
Ultra Maritime, specializing in anti-submarine warfare and undersea defense technologies, is a part of Cobham Ultra - created after Advent acquired British aerospace company Cobham in 2020 and then combined it with Ultra Electronics following its 2022 takeover.
Lockheed said Ultra Maritime's international presence and a portfolio of exportable anti-submarine warfare technologies, including naval sonar sensing systems, will complement and expand its existing sonar solutions.
Ultra Maritime received US Navy contract earlier in 2026
Earlier this year, Ultra Maritime received a development contract from the US Navy for its underwater acoustic decoy, designed to protect ships or submarines from torpedoes.
In 2025, Ultra Maritime announced a partnership with Anduril Industries to advance autonomous ocean sensing, and General Atomics Aeronautical Systems to develop unmanned airborne anti-submarine warfare capabilities.