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TeachMeFinance.com - explain ACE ACE 'ACE' is an abbreviation standing for 'airborne command element (USAF); air combat element (NATO); Allied Command Europe; aviation combat element; aviation combat element (MAGTF)'. Previous 5 Terms: ACCE ACCON ACCS ACCSA ACDO Next 5 Terms: ACEOI ACF ACI ACIC ACINT Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.