CMMT is "a subsonic, low-cost, long-range cruise missile," Callaway said. Its low-cost turbine engines cannot, however, compete with cruise missiles such as Lockheed's AGM-158 Joint Air-to-Surface Standoff Missile. The JASSM is a 1,000-pound missile costing over $1.5 million per item.

Defense contractor Lockheed Martin (NYSE:LMT) has unveiled the Common Multi-Mission Truck (CMMT), a new low-cost cruise missile priced at $150,000 with a range exceeding 500 miles. This missile is designed to address U.