Lockheed Martin announced a lower-cost Patriot interceptor on Monday as militaries seek cheaper ways to counter drones and missiles, while defence contractors face competition from start-ups making low-cost weapons that can be produced at scale. Lockheed said its new PAC-3 Adapted Capability Effector (ACE) missile would cost less than half as much as its PAC-3 MSE interceptors, which cost roughly US$4 million per missile, according to US Army budget documents. Lockheed Martin introduced a new, cheaper interceptor for the Patriot air defence system.
This PAC-3 ACE missile costs less than half of current options. It aims to help allies counter growing drone and missile threats affordably. Initial production could begin within thirty-six months with industry partners.
This development addresses rising global conflicts and competition from new weapon makers.
Summary from source