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.
Initial production could start within 36 months, the company said, adding that it planned to develop and manufacture the weapon with US and European industry partners.
“American and allied warfighters need a solution that is battle-tested and budget-smart,” Tim Cahill, president of Lockheed Martin Missiles and Fire Control, said in a statement at Britain’s Farnborough Airshow.
The location of the announcement underscores efforts by US defence companies to tap a European rearmament boom fuelled by Russia’s war in Ukraine, even as European governments seek to reduce dependence on American suppliers and expand local defence manufacturing.
