Launch of Patriot Advanced Capability (PAC)-3 Missile Segment Enhancement (MSE) interceptor. (Photo: Lockheed Martin)

The Army is officially accepting industry’s proposals for its low-cost interceptor competition, with plans to conduct demonstrations of all-up rounds and critical components this fall before selecting winners in December.  The service plans to award up to $8 million in cash prizes for the initiative, called xTech|Apex Intercept, with an eye toward seeking innovative solutions from businesses of all sizes, to include new defense entrants.  “The U.S. Army is taking a new approach to one of the central challenges facing…