Each faction in Galaxy on Fire 2 has at least 1 ultimate ship, these are considered to be the best ships in the GoF universe for reasons written below.
Pros: Armor, turret slot, and fair cargo space.
Cons: Only 3 primary weapons slots, could use better handling.
Terran - Phantom XT
Pros: 4 primary weapons, Great handling (150), Equipment slots (14), Nice armor (425), small design (makes it harder to hit and weapons are more centered, allowing it to not miss).
Cons: 1 secondary, expensive, must own Kaamo to buy and no turrets.
Terran - Groza MK II
Pros: 5 primary weapons (only ship to be so, providing probably highest DPS and DPH in game),
Well-balanced handling (122), Large cargo space(90), High armor (450).
Cons: 1 secondary, relatively poor equipment slots (11), expensive, must own Kaamo to buy and no turrets.
Terran - Teneta R.E.D.
Cons: Only 2 secondary weapons, must own Kaamo to buy, extremely expensive for new players
Terran - Dark Angel
Cons: Only 2 secondary slots, one less equipment slot (14) than Kinzer RS, love it or not design
Pros: Armor, 4 primary slots and a turret slot, high cargo (highest of the ultimate fighter ships)
Cons: Handling (use of a Pulsed Plasma Thrust is recommended), only 2 secondary slots, not too much equipment slots (11).
Pros: Good armor, 4 Primary slots, 4 secondary slots, Great handling, Good armor. Great for people who cannot afford the S'Kanarr or people who value handling.
Cons: Not too good cargo (70), No turret slots.
Pros: 4 primary and secondary slots, one of the best looking ships, and cost efficient.
Cons: Low cargo space and armor, no turret.
Pros: 4 primary slots, 14 equipment slots, looks pretty good, 530 armor, and good handling
Cons: Expensive, 2 secondary slots, no turrets, and low cargo space.
Nivelian- Kinzer RS
Pros: 4 primary slots, 15 equipment slots, 4 secondary slots, nice paintjob (GOLD), 420 armor, and 125 handling.
Cons: Very expensive, must own Kaamo to buy, no turrets, not much cargo space (65).
Nivelian - Specter
Pros: 4 primary, stealth integrated system, best looking, 800 armor, great handling, 16 equipment slots
Cons: Cost (30 Million credits on all difficulties), Low cargo space, no turret, 2 secondary weapons.
Midorian- Nuyang II
Pros: Good armor, cargo, and 4 primary slots, cheapest of the ultimate fighter ships.
Cons: Low number of equipment slots, handling, no turret.
Midorian - Berger Cross Special
Pros: Cargo, and 4 primary slots, 4 secondary slot, high armor (considering it is a custom ship), and 14 equipment slots, high handling
Cons: No turret, Must own Kaamo to buy.
Pros: Armor, 4 primary and secondary slots, equipment, and handling.
Cons: Low cargo space, no turret, somewhat ugly.
Pirate - Darkzov
Pros: Armor, 4 primary and secondary slots, equipment, turret, handling
Cons: 1 secondary weapon only, Must own Kaamo to buy, Expensive.
Void - VoidX
Pros: 5th armor available, 4 primary and secondary slots, 15 equipment slots, high handling.
Grey - Vol Noor
Pros: Relatively high armor for a ship its size, Cheap, Good handling.
Cons: Weakest of all ultimate ships, Low number of equipment and weapons slots. It is the only grey ship.
Deep Science - Nemesis
Pros: Integrated Khador Drive (saves an equipment slot), 14 equipment slots, 4 primary weapons, good handling and armor.
Cons: High price (6.8m), no turret, only 1 secondary weapon.
Most Wanted - Bloodstar
Pros: 4 primary weapons, 4 secondary weapons, 1 turret, 14 equipment slots, 180 cargo space, high armor. strongest ships if you are a fighter and have Rhoda Blackholes
Pros: All types of weapons, large cargo space, heavy armor.
Cons: High price (125000 Cr.), low maneuverability.
Pros: High armor and highest cargo capacity of any ship (Excluding the Rhino as that is only in the Supernova add-on).
Cons: Basically useless in battle (No primary slots, horrible handling)
Pros: 2 secondary weapons, turret slot, highest armor and cargo in the game
Cons: extremely low handling, no primary weapons