A Lockheed Martin Company sign on the floor of the New York Stock Exchange (NYSE) on Monday, March 9, 2026 in New York, USA.
Michael Nagle | Bloomberg | Getty Images
Defense giant Lockheed Martin is leading the race to acquire Naval Defense Group’s Ultra Maritime, CNBC reported.
The deal for Ultra is worth about $3.5 billion, with Guggenheim and JPMorgan providing sell-side advice, according to people close to CNBC.
Ultra is owned by private equity firm Advent International and specializes in anti-submarine technology. The company manufactures radars, electronic warfare systems, and torpedo defense equipment.
The Financial Times reported last week that negotiations were still ongoing and a deal could be announced as early as this week.
Advent was reportedly up for sale in early 2026 for more than £3 billion ($4 billion).
Lockheed Martin is one of the world’s largest defense companies, producing aircraft such as the F-35 Lightning II fighter jet and military equipment such as the Patriot air defense missile.
2026 has been a bumper year for defense stocks as conflicts from Ukraine to Iran increase military demand around the world.
The Stockholm International Peace Research Institute announced in April that global defense spending will reach a staggering $2.89 trillion in 2025, thanks to huge spending by European countries.
