RAMALLAH – The Israeli Ministry of Defense on Friday announced that Israel Missile Defense Organization (IMDO) and the US Missile Defense Agency (MDA) have completed another successful test of the Arrow 3 missile interception system. The Israeli Army Radio quoted military officials as saying that the interceptor was launched and performed well during all phases of flight. “This is the second flight test of the Arrow-3 interceptor and was conducted at Israeli test range over the Mediterranean Sea,” the Israeli Defense Ministry said in a statement. The ministry added that at 8 a.m. local time (GMT 0600), Friday, the Arrow-3 interceptor was “successfully” launched, and flew an exoatmospheric trajectory through space, according to the test plan. The report said that this is the second flight test conducted for the Arrow 3; the first, also successful, was conducted in February 2013. According to the report, the project is overseen by the Israeli Ministry of Defense's Home Administration and the US Missile Defense Agency. 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 report said that 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 report said that the Iron Dome is already operational; David's Sling is due to become operational sometime in 2014. The test comes just after terrorists in Gaza on Tuesday tested a new long-range M-175 missile capable of reaching beyond the central Israeli city of Tel Aviv.