Lockheed Martin Unveils Cheaper Patriot Missile Amid Air Defence Surge

Lockheed Martin has introduced a new, budget-friendly version of the Patriot missile, priced at under half of the current US$4 million per unit. This reveal took place at the Farnborough Airshow in the UK, with plans for initial production potentially starting within the next 36 months. The company aims to partner with both American and European manufacturers for its development. Tim Cahill, who leads Lockheed Martin Missiles and Fire Control, highlighted that this option is designed to be both effective in combat and cost-efficient for the US and allied forces. The announcement reflects US defense firms’ efforts to capitalize on a surge in European military spending following Russia's invasion of Ukraine, which has increased demand for the Patriot system significantly since 2022.