Lockheed to buy Ultra Maritime for US$3.45 billion in sea push

Published Mon, Jul 6, 2026 · 10:27 PM

[NEW YORK] Lockheed Martin agreed to buy naval defence business Ultra Maritime, which focuses on submarine detection systems, for US$3.45 billion as the US defence giant broadens its undersea weapons portfolio.

The business is being sold by private equity firm Advent’s Cobham Ultra subsidiary, according to a statement on Monday (July 6). 

Ultra Maritime focuses on anti-submarine warfare in the air, surface and undersea domains, including sonobuoys, sonar systems and torpedo countermeasures, according to its website. The company supplies navies in the US, Canada, UK and Australia, and in April said it had won a US Navy contract to produce the next-generation AN/SSQ-126B sonobouy, which can be deployed from Boeing Co. P-8 Poseidon aircraft. 

“Undersea superiority belongs to those who move fastest and work together best,” Stephanie C Hill, president of Lockheed Martin Rotary and Mission Systems, said in a news release. “By joining forces with Ultra Maritime, we’re accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our US and allied partners across the globe.” 

Lockheed already produces some undersea systems, including integration work on nuclear submarines and guidance components for the US Mk48 torpedo.

Advent said in a news release it had invested about US$170 million in Ultra Maritime during the past three years. 

Bloomberg News reported in March that Advent was exploring a sale of the business. It will be Lockheed’s fourth deal in 2026 if completed, and by far the largest this year.

Naval weapons, especially autonomous systems, are in high demand as navies look for ways to cheaply magnify their combat power. Minesweeping equipment, which often includes uncrewed underwater vehicles, has been a particular area of focus after the Iran war led to the closing of the Strait of Hormuz.

Earlier Monday, Thales said it was buying Exail Technologies, a French company specialising in such systems. BLOOMBERG