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.

Lockheed Martin plans to unveil a new "affordable" cruise missile on Monday with a cost of about $150,000 and a range of over 500 miles (800 km) as the defense contractor works to tap a U.S. need to deter Chinese ambitions in the Pacific.

Lockheed Martin is developing the Common Multi-Mission Truck System (CMMT--"comet")--what could serve as a drone, sensor, or a

Lockheed Martin plans to unveil a new “affordable” cruise missile on Monday with a cost of about $150,000 and a range of over 500 miles as the defense contractor works to tap a U.S. need to deter Chinese ambitions in the Pacific.