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Lockheed Martin Unveils Budget Patriot Missile at Half the Price on July 20

GateNews
LMT1.49%
According to Reuters and WSJ, Lockheed Martin announced the mass production plan for PAC-3 ACE, a low-cost Patriot air defense missile, on July 20 at the Farnborough Air Show. The new missile will be priced at less than half of the existing PAC-3 MSE model, which costs approximately $4 million per unit. Lockheed Martin stated that the PAC-3 ACE can intercept cruise missiles, short-range, and medium-range ballistic missiles, and will be fully compatible with existing PAC-3 fire control systems. Initial production is expected to begin within 36 months, with joint development and production by U.S. and European industrial partners.
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