The new Patriot PAC-3 Adapted Capability Effector, known as PAC-3 ACE, will cost less than half as much as the existing PAC-3 MSE interceptor, according to Lockheed Martin.

International News: Lockheed Martin has unveiled a new lower-cost interceptor for the Patriot air defence system, aiming to help the US and its allies counter the growing.

The new missiles will cost less than half that of the current ones, which are about US$4 million each, the US defence contractor says.