Lockheed Martin is moving deeper below the waterline, signing a definitive agreement to acquire Ultra Maritime for $3.45 billion, adding a defense supplier focused on undersea warfare and anti-submarine warfare for allied naval forces.
Ultra Maritime’s portfolio includes sonar technologies, sonobuoys, torpedo defense systems, radar solutions and autonomous maritime sensing platforms, according to Lockheed’s announcement.
Ultra Maritime will become part of Lockheed’s Rotary and Mission Systems business after the deal closes. Reuters reported that the unit generated $17.3 billion in revenue in 2025 and employs 35,000 people worldwide, giving Ultra Maritime a larger distribution channel than it had as a private equity-backed specialist.
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Lockheed’s latest financial backdrop explains the timing. The company reported $75.0 billion in 2025 sales, up 6%, with $5.0 billion in net earnings, $8.6 billion in operating cash flow, $6.9 billion in free cash flow, and a record backlog of $194 billion at year-end.
Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems, said “undersea superiority belongs to those who move fastest and work together best,” adding that Ultra Maritime would accelerate delivery of anti-submarine warfare capabilities to US and allied partners.
The acquisition also gives Lockheed exportable products that fit into existing naval procurement channels. Lockheed said Ultra Maritime’s sonobuoys, towed sonar arrays and hull-mounted sonar lines would complement and expand its own sonar offerings across next-generation maritime platforms.
Ultra Maritime enters the deal with recent program momentum. In February, the company said it won a US Navy development contract for the next-generation Acoustic Device Countermeasure MK6, a torpedo-defense system designed to respond to evolving underwater threats.
In April 2025, Ultra Maritime and Anduril also announced an exclusive partnership to develop unmanned subsea sensing capability, tying old-school naval acoustics to the newer defense-tech race around autonomous platforms.
Reuters also reported that Ultra Maritime partnered in 2025 with General Atomics Aeronautical Systems to develop unmanned airborne anti-submarine warfare capabilities.
The deal will mark a private equity exit. Lockheed is buying Ultra Maritime from Advent, and that Ultra Maritime is part of Cobham Ultra, created after Advent acquired Cobham and combined it with Ultra Electronics after a 2022 takeover.
Shonnel Malani, Advent managing partner and Ultra Electronics board chair, said Ultra Maritime had been “underinvested” when Advent invested in 2022, but is now a stronger partner to allied navies.
Financial Times reported that Ultra Maritime’s revenue is projected to reach $784 million in 2026, with annual revenue growth of 17%. It also reported that Lockheed beat rival bidders including Thales and that Advent had invested $170 million into Ultra Maritime over three years.
