JERUSALEM, Aug. 17 (Xinhua) -- Israel announced on Thursday that it will sell its most advanced missile defense system Arrow-3 to Germany, marking the country's largest-ever military deal.
The Israeli and German defense ministries "will sign the landmark 3.5-billion-U.S. dollar defense agreement," the Israeli Defense Ministry said in a statement.
According to the ministry, senior officials from both sides will soon sign a Letter of Commitment, with a preliminary payment of 600 million dollars, and the full contract will be signed by the end of 2023.
"This is a significant decision, which will contribute to the buildup of Israeli forces and economy," Defense Minister Yoav Gallant said in a statement.
The long-range Arrow-3 anti-ballistic missile system, designed to intercept exo-atmospheric ballistic missiles, was jointly developed by Israel and the United States.
"With its exceptional long-range interception capabilities, operating at high altitudes above the atmosphere, it stands as the top interceptor of its kind," the Israeli ministry said, adding that "the system employs a hit-to-kill approach for intercepting incoming threats."
The Arrow-3 missile system is part of the country's multi-layer defense doctrine, which includes Iron Dome, a system aimed at intercepting short-range rockets, and David's Sling, which can intercept medium-range missiles.
