Lockheed Martin agreed to acquire Ultra Maritime from private equity firm Advent for $3.45 billion on July 6, 2026. Ultra Maritime is part of Advent's Cobham Ultra subsidiary.

Ultra Maritime produces sonobuoys, sonar systems, torpedo defense countermeasures, radar solutions, and autonomous maritime sensing platforms. Its core market includes naval customers in the United States, Canada, the United Kingdom, and Australia. Lockheed Martin stated that Ultra Maritime employees will be integrated into its Rotary and Mission Systems business area upon completion of the transaction.

Advent acquired Ultra Maritime in 2022. Between 2022 and 2026, Advent invested approximately $170 million in Ultra Maritime product development and manufacturing. Advent stated that Ultra Maritime's annual revenues grew roughly 17% per year during this period.

In 2025, Ultra Maritime announced a partnership with Anduril Industries to develop autonomous ocean sensing capabilities. The company also announced a partnership with General Atomics Aeronautical Systems in 2025 to develop unmanned airborne anti-submarine warfare capabilities. In 2026, the U.S. Navy awarded Ultra Maritime a contract for the development of an acoustic decoy system designed to defend vessels and submarines against incoming torpedoes.

Lockheed Martin's Rotary and Mission Systems segment reported revenue of $17.3 billion in 2025 and employs 35,000 people worldwide. The segment's operating profit fell 19% to $423 million in the first quarter of 2026, and its revenue declined 8% in the same period.

Stephanie C. Hill, President of Lockheed Martin Rotary and Mission Systems, commented on the acquisition. Hill said, "Undersea superiority belongs to those who move fastest and work together best." Hill added, "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."

The acquisition is subject to regulatory approvals and customary closing conditions. Citi is serving as financial advisor to Lockheed Martin, with Hogan Lovells Cadwalader acting as legal counsel and Fried Frank as tax counsel. Guggenheim and JPMorgan are advising Advent on the sale of Ultra Maritime.