Pictured is a Kratos photo of its TDI-J85 engine.

Lower cost, $300,000 or less cruise missiles and their engines present a significant opportunity for Kratos Defense & Security Solutions [KTOS], its CEO said this week. "The Family of Affordable Mass Missiles, the FAMM program, which the Air Force’s Future Years Defense Plan, or FYDP, calls for 27,000 low-cost cruise missiles, has been a top strategic priority of Kratos’ jet engine initiative, and it’s now happening," Eric DeMarco told analysts in a Tuesday evening earnings call. "The Pentagon is also looking…