Lockheed Martin to Buy Ultra Maritime in $3.45B Naval Deal

Lockheed Martin will purchase Ultra Maritime for $3.45 billion. That is roughly $50 million less than the $3.5 billion figure that had been reported as an estimate. The deal also comes after Ultra Maritime's owner, private equity firm Advent International, had reportedly put the company up for sale at over £3 billion (roughly $4 billion) earlier in 2026.

The Deal

The seller, Advent International, hired Guggenheim and JPMorgan as financial advisors. Lockheed Martin used Citi as its own financial advisor on the transaction.

Why It Matters

Lockheed Martin wants to improve its undersea and anti-submarine warfare abilities for the U.S. and its allies. Ultra Maritime produces radar systems, electronic warfare equipment, and torpedo defense countermeasures.

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Lockheed Martin Rotary and Mission Systems President Stephanie C. Hill commented, "By joining forces with Ultra Maritime, we're accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our U.S. and allied partners across the globe."

Ultra Maritime's product line includes sonar buoys, mine detection systems, and naval communications equipment, which will enhance Lockheed Martin's ability to provide integrated solutions for navies worldwide. This acquisition also positions the company to better compete with peers such as BAE Systems and Thales in the undersea warfare market.

The deal happens at a time when global military spending is rising fast. According to the Stockholm International Peace Research Institute's April report, worldwide military expenditures in 2025 reached a remarkable $2.89 trillion, driven largely by increased outlays from European countries. Conflicts in places like Ukraine and Iran are increasing demand for munitions worldwide.

This acquisition fits into a broader pattern of defense contractors consolidating to address growing naval threats. With the U.S. and allies increasingly focused on submarine detection and underwater warfare, Ultra Maritime's specialized technologies will strengthen Lockheed Martin's portfolio for navies across the globe. The purchase price, while below the initial asking price, reflects the strategic value of anti-submarine capabilities in an era of heightened military spending.

The addition of Ultra Maritime also complements Lockheed Martin's existing naval systems, such as the Aegis combat system and advanced sonar arrays. By integrating Ultra Maritime's sensors and communications gear, Lockheed can offer more comprehensive undersea warfare solutions to allied navies modernizing their fleets.

What's Next

Once the acquisition is finalized, the Ultra Maritime workforce will join Lockheed Martin's Rotary and Mission Systems division. According to a Financial Times report from last week, the negotiations were ongoing and an announcement could be expected shortly.

Worth Noting

Ultra Maritime had been put on the market by Advent International earlier in 2026 with a reported asking price of over £3 billion (about $4 billion). Lockheed Martin's final purchase price was $3.45 billion.

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