Iran has successfully tested a brand new precision-guided ballistic missile, Iranian Defence Minister, Hossein Dehghan said on Sunday.
Iran is trying to improve the accuracy of its missile arsenal, because the potential effectiveness of its long distance missile program has been compromised by poor accuracy, Reuters reported.
Iran’s missile arsenal is one of the biggest in the region, despite the restrictions imposed by years long UN arms embargo.
Iranian state television aired a video which appeared to be a successful launch of the long awaited missile dubbed "Emad," Iran's first precision-guided weapon with an incredibly long range. Iranian media also claims Emad’s has the range to strike Iran's regional rival, Israel.
Emad would have a range of 1,700 km (1,060 miles), 500 metres (1,650 feet) accuracy and a 750 kg (1,653 pound) payload, says Anthony Cordesman, a researcher at the Center for Strategic and International Studies in Washington.
"The Emad missile is able to strike targets with a high level of precision and completely destroy them... This greatly increases Iran's strategic deterrence capability," Defence Minister, Hossein Dehghan said during a televised news conference.
Emad is a variant of the liquid-fuelled Shahab-3 missile, in use since 2003, but Shahab-3 is only accurate within 2,000 metres.
"Our leadership and armed forces are determined to increase our power and this is to promote peace and stability in the region. There is no intention of aggression or threats in this action," he added.
Iran reached a long sought nuclear deal with world powers in July of this year. The deal between Iran and six world powers - Britain, China, France, Germany, Russia and the United States - is aimed at monitoring Iran's most sensitive nuclear work for over 12 years in exchange for immediate relief for the country from the economic sanctions, which have long crippled its economy.
Israeli however says the nuclear deal may be insufficient to stop Tehran from developing an atomic bomb, although Iran reiterates its nuclear program is completely peaceful.
"The Emad represents a major leap in terms of accuracy. It has an advanced guidance and control system in its nose cone," Israeli missile expert Uzi Rubin told Reuters.
Israel is the Middle East’s sole nuclear energy developer.