U.S. Army seeks low-cost missile interceptors in bid to rewrite procurement

U.S. Army Secretary Dan Driscoll is challenging defense companies to develop a new generation of low-cost air-defense interceptors within a year, a move that could reshape one of the military's most expensive and strategically important weapons markets, Bloomberg News reported Tuesday. The initiative, which will be presented to roughly 100 companies ranging from defense startups to established contractors, reflects growing concern that the Pentagon's traditional approach to weapons acquisition has produced systems that are highly capable but difficult to manufacture quickly and affordably at scale. For investors, the effort could create opportunities for defense technology companies focused on mass production,...