Lockheed Martin introduced a new, lower-cost version of its Patriot interceptor at the Farnborough Airshow on Monday, a move that reflects how fundamentally the economics of air defense have changed under the pressure of real-world conflict. The PAC-3 Adapted Capability Effector, or PAC-3 ACE, is projected to cost less than half the price of the current PAC-3 MSE interceptor, which runs approximately $4 million per missile according to US Army budget documents. Initial production is expected to begin within 36 months, developed and manufactured jointly with US and European industry partners.