Lockheed Martin Corporation has emerged as the frontrunner in a competitive bidding process to acquire the Ultra Maritime business from Advent International, according to a report by the Financial Times. The potential transaction is valued at approximately $3.5 billion.
The acquisition would expand the defense contractor's portfolio within the maritime sector. Ultra Maritime is a business unit currently owned by Advent International, a global private equity firm. Details regarding the specific assets, personnel, or operational scope of Ultra Maritime were not provided in the initial reports.
Lockheed Martin, headquartered in Bethesda, Maryland, designs, manufactures, and markets aeronautic, submarine, and aerospace systems. The company generates revenue through the sale of military and civilian aircraft, helicopters, missile defense systems, radars, and satellite systems. Its operations are distributed globally, with the majority of net sales originating in the United States.
The report of the potential acquisition coincides with positive market sentiment for the defense giant. Shares of Lockheed Martin closed at $545.91 on July 2, 2026, reflecting a 4.62 percent increase. Pre-market trading on July 6 showed the stock at $542.90, down 0.55 percent from the previous close. Citigroup recently upgraded its rating on Lockheed Martin to Buy, adjusting its price target to $582.
The defense industry has seen significant activity recently, including a $347.5 million contract awarded to Lockheed Martin by the U.S. Army on July 1. Additionally, the U.S. government approved the sale of 24 Hellfire missiles to Singapore earlier that week. These developments occur amid broader shifts in the naval sector, which are reshaping valuation benchmarks for defense companies.
