The Ministry of Defense announced Friday morning that they have completed another successful test of the Arrow 3 missile interception system. The interceptor was launched and performed well during all phases of flight, officials stated.

This is the second flight test conducted for the Arrow 3; the first, also successful, was conducted in February 2013. The project is overseen by the Ministry of Defense's Home Administration and the US Missile Defense Agency. 

Arrow 3 is designed to intercept ballistic missiles that have a longer range and higher altitude than those covered by Arrow 2. The system is another vital component of the multi-layered defense system designed to protect the State of Israel, which includes the Arrow systems, the Iron Dome, and David's Sling. Arrow 3 covers the longest range of the missiles. 

The Iron Dome is already operational; David's Sling is due to become operational sometime in 2014, according to recent estimates.

The Arrow 3, meanwhile, is set to be finished over the next 2 years; the project has been delayed due to budget cuts - numbering at $55 million - from the US in September. 

The test comes just after terrorists in Gaza on Tuesday tested a new long-range M-175 missile capable of reaching beyond Tel Aviv.