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Lockheed Martin to buy submarine-hunting sensor maker Ultra Maritime

Lockheed Martin to buy submarine-hunting sensor maker Ultra Maritime

Money Moves

A $3.45 billion deal pulls much of the Western navies' undersea-sensing supply chain under one prime contractor

Today: Lockheed agrees to buy Ultra Maritime

Overview

The gear that finds enemy submarines comes largely from one mid-sized firm, Ultra Maritime. On July 6, 2026, Lockheed Martin agreed to buy it for $3.45 billion.

The purchase pulls a critical naval-sensing supply chain under a single prime contractor. Ultra sells sonar and sonobuoys to the navies of the United States, Britain, Canada, and Australia. Rival shipbuilders and missile makers may now depend on a competitor for parts.

Why it matters

One prime contractor would control much of the sensing gear that U.S. and allied navies use to find enemy submarines.

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Key Indicators

$3.45B
Purchase price
What Lockheed will pay Advent for Ultra Maritime.
$170M
Advent's investment since 2022
Spent on product development and factory capacity, including in-house sonobuoy production.
17%
Annual revenue growth
Ultra Maritime's yearly sales growth under Advent from 2022 to 2025.
$17.3B
Buyer division revenue (2025)
Lockheed's Rotary and Mission Systems unit, which will absorb Ultra.
4
Core navy customers
The United States, Britain, Canada, and Australia buy Ultra's gear.

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People Involved

Organizations Involved

Timeline

January 2020 July 2026

4 events Latest: Today
Tap a bar to jump to that date
  1. Lockheed agrees to buy Ultra Maritime

    Today Deal

    Lockheed Martin announces a definitive agreement to buy Ultra Maritime from Advent for $3.45 billion, subject to regulatory approvals.

  2. Navy awards sole-source sonobuoy deal

    Contract

    Ultra Maritime wins a sole-source U.S. Navy contract to produce sonobuoys, showing its standing as a supplier.

  3. Ultra Maritime is formed under Advent

    Deal

    Advent completes its Ultra Electronics takeover and carves out Ultra Maritime as its undersea-warfare business.

  4. Advent buys Cobham

    Deal

    Advent International acquires British aerospace and defense supplier Cobham, its first step into the sector.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

December 2020 – February 2022

Lockheed–Aerojet Rocketdyne blocked (2020–2022)

Lockheed agreed to buy Aerojet Rocketdyne, a top maker of rocket motors, for $4.4 billion. The Federal Trade Commission sued to block it, arguing Lockheed could starve rival missile makers of a key input. Lockheed dropped the deal.

Then

Lockheed terminated the purchase in February 2022 and paid no breakup fee to regulators.

Now

L3Harris later bought Aerojet Rocketdyne for $4.7 billion, cleared in 2023 because L3Harris was not a competing missile prime.

Why this matters now

It shows the exact worry regulators may raise here: a prime buying a supplier that also feeds its competitors.

September 2017 – June 2018

Northrop–Orbital ATK approved with conditions (2018)

Northrop Grumman bought Orbital ATK, a leading solid-rocket-motor maker, for $9.2 billion. The FTC feared Northrop could cut off rival missile bidders. It approved the deal anyway, with strings attached.

Then

The FTC required Northrop to supply rocket motors to competitors on non-discriminatory terms, watched by a compliance monitor.

Now

The behavioral remedy became a template for clearing defense mergers where a prime absorbs a critical parts supplier.

Why this matters now

It maps the middle path for the Ultra deal: not a block, but a supply guarantee to keep rivals in the game.

Sources

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