U.S. defense company Anduril has developed the modular Steelfin interceptor as a lower-cost alternative to missiles used by Patriot air defense systems, Bloomberg reported.

The new weapon is designed to engage a wide range of targets, including drones, cruise missiles, ballistic missiles and hypersonic weapons. Its main feature is a modular architecture that allows engines and guidance systems to be changed for specific threats without developing an entirely new interceptor from scratch.

According to Bloomberg, Anduril plans to price Steelfin at roughly one-third the cost of a PAC-3 MSE interceptor. The new missile is expected to cost about $4 million. The company also plans more advanced configurations intended for high-altitude missile defense missions.

Anduril President Chris Brose told the agency that the company is already working under several contracts with different customers, though he declined to identify them. Most Steelfin components are expected to be produced at the Arsenal-1 facility in Ohio, with full-scale production scheduled to begin in late 2028 or early 2029.

Bloomberg also reported that the new interceptors are being developed for use with existing Patriot launchers and U. S. Navy systems.