FARNBOROUGH — Lockheed Martin today unveiled the PAC-3 Adapted Capability Effector (ACE), an air defense system designed to defeat cruise missiles and short-range ballistic missiles at half the price of the existing PAC-3 MSE per unit.

It was one of two notable low-cost interceptor designs revealed during day one of the Farnborough Airshow, as European firm MBDA also announced a new interceptor for cruise missiles, helicopters and drones.

Lockheed’s PAC-3 ACE system appears to be a direct response to the global desire for Patriot, but at a price point that is more affordable — which in turn would make it, in theory, easier to mass produce.

“It is not designed to replace the MSE, but to supplement it — it has its heritage and maturity, but we bring the costs down by changing some of the components,” Tim Cahill, Lockheed’s president for missiles and fire control, told reporters during a media briefing here.

The way Lockheed has envisioned bringing down the interceptor’s cost starts by backing off on component capability, including on the solid rocket motor in the system’s seeker that the company is going to “throttle back.” In addition, the firm is looking to apply advanced manufacturing techniques and make design changes to improve production, including by bringing AI capabilities into the fold. Cahill said he expects high demand, which would increase production and allow for a reduction in price.