Israel has approved plans to dramatically accelerate the production of Arrow interceptor missiles, the Defense Ministry announced Monday.

According to the ministry, the agreement with Israel Aerospace Industries, “will enable a substantial increase in the production rate and quantity of Arrow interceptors.”

Israel’s Arrow 3 missile defense is currently its most advanced long-range defense system, meant to intercept ballistic missiles — like the type fired from Iran — while they are still outside the Earth’s atmosphere.

A single Arrow 3 missile has an estimated price of $2-3 million and takes a few months to produce, although the exact time frame has not been made public by Israel due to security concerns.

Foreign reports throughout the war have indicated that Israel is rationing its interceptors.

Defense Minister Israel Katz was the latest official to deflect the reports, denying on Monday that Israel is running low.

“Israel has sufficient interceptors to protect its citizens, and the current move is intended to ensure continued operational freedom and the necessary endurance,” he said in the Defense Ministry statement. “The Ayatollah regime should know: Israel is strong and resilient, prepared to continue the campaign as long as necessary, and continues to enhance its defensive and offensive capabilities........

© The Times of Israel