Lockheed Martin to Acquire Ultra Maritime for $3.45B
Synopsis
The defence giant is strengthening its maritime technology portfolio with the acquisition of Ultra Maritime, capitalising on rising global demand for advanced naval defence systems.
Lockheed Martin is to buy Ultra Maritime from private equity firm Advent International for US$3.45 billion, broadening its involvement in the defence of the oceans that governments have been boosting investments in.
Upon closing, the company will be part of Lockheed Martin's Rotary and Mission Systems division subject to regulatory approvals and customary closing conditions.
Building a Broader Naval Technology Business
Ultra Maritime is a developer of sonar systems, acoustic sensors, sonobuoys and torpedo defence technologies for underwater threat detection, monitoring and response. It provides products to assist in anti-submarine warfare programmes of its allies, including the United States, United Kingdom, Canada and Australia.
The company came into existence following Advent's acquisition of Cobham in 2020 and then the merger of aspects of Cobham's and Ultra Electronics' businesses in 2022.
More recently, Ultra Maritime has won an underwater acoustic decoy development contract from the U.S. Navy; and announced several partnerships in autonomous maritime surveillance technologies.
Defence Spending Continues to Support Demand
The purchase follows a trend of increased spending on defence in many developed nations. The total amount of military expenditure in 2025 is estimated to be US$2.89 trillion, rising for the eleventh consecutive year, according to the Stockholm International Peace Research Institute (SIPRI) report "Trends in World Military Expenditure 2025.
The United States continued to spend the most on defence, followed by China, Russia, Germany and India, and both Europe and the IndoPacific regions are also increasing their defence spending.
The pact dovetails with Australia's investment in maritime capability, such as the AUKUS and wider naval modernisation initiatives. Governments have bolstered security in the Indo-Pacific and other strategically significant waterways, driving an uptick in demand for underwater surveillance, anti-submarine warfare and maritime sensing technologies.
Lockheed Martin's net sales for 2025 were US$71.0 billion, with its Rotary and Mission Systems business accounting for US$17.3 billion in sales. The division makes radar systems, naval combat technologies, military communications and integrated mission systems, and Ultra Maritime is a strategic addition to the division's portfolio.
The purchase increases Lockheed Martin's reach into the sector for specialised undersea technologies and defence programs overseas, as well as linking the company to a sector that has seen a surge in investment from allied governments.
Source: Reuters
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
