Lockheed Martin to Acquire Ultra Maritime for $3.45 Billion in Undersea Defense Push

Lockheed Martin has agreed to acquire undersea warfare technology company Ultra Maritime from private equity firm Advent in a deal valued at $3.45 billion, expanding its capabilities in anti-submarine warfare as Western navies ramp up investment in underwater defense.

The acquisition, announced Monday, will bring Ultra Maritime’s portfolio of sonar systems, sonobuoys, torpedo defense technologies and other undersea warfare products into Lockheed Martin’s Rotary and Mission Systems business. The transaction remains subject to customary regulatory approvals and closing conditions.

Ultra Maritime was carved out by Advent following its 2022 acquisition of Ultra Electronics. Since then, Advent said it has invested roughly $170 million in product development and manufacturing to expand the company’s production capacity and accelerate delivery of next-generation undersea warfare technologies.

A major focus of that investment has been building Ultra Maritime into an independent, end-to-end supplier of sonobuoys—expendable acoustic sensors used by maritime patrol aircraft and helicopters to detect submarines. The company said its investments have strengthened manufacturing, supply chain resilience and intellectual property in acoustic sensing as demand for anti-submarine warfare systems grows.

According to Advent, Ultra Maritime’s annual revenue has increased by roughly 17% per year since 2022.

The company has also expanded into autonomous undersea warfare technologies through partnerships with defense technology firms including Anduril Industries and General Atomics Aeronautical Systems. Those collaborations focus on autonomous ocean sensing and unmanned airborne anti-submarine warfare capabilities.

“When we invested in Ultra Maritime in 2022, we saw a business with mission-critical technology and a vital role in protecting allied nations from undersea threats,” said Shonnel Malani, managing partner at Advent and chair of Ultra Electronics. “Over the past four years, we have changed that. Ultra Maritime is now a stronger, more innovative partner to allied navies—with improved execution, greater industrial capacity and next-generation autonomous solutions that position it well for future warfare.”

Ultra Maritime President and CEO Carlo Zaffanella said the company has expanded its independent sonobuoy production capability while modernizing manufacturing and developing new modular sonar and autonomous acoustic sensing systems.

“We have strengthened our position as a leader in torpedo technologies, towed and hull-mounted sonars, radar solutions and torpedo countermeasures,” Zaffanella said.

For Lockheed Martin, the acquisition further strengthens its position in the increasingly strategic undersea domain, where rising submarine activity and growing geopolitical tensions have driven higher defense spending among the U.S. and its allies.

“Undersea superiority belongs to those who move fastest and work together best,” said Stephanie Hill, president of Lockheed Martin Rotary and Mission Systems. “By joining forces with Ultra, 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.”

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