Russia's Almaz-Antei design bureau is planning to complete the development of the advanced S-500 air defense system by 2015-2016, said the company's deputy general director Yury Solovyev this Friday April 8, 2011.

The S-500 is described as an upgraded version of the S-400 Triumf NATO code SA-21 Growler

The S-500, a long-range missile system, is expected to become the backbone of a unified aerospace defense system being formed in Russia.

"Our design bureau is working to complete the development of the S-500 system by 2015-2016," Solovyev said.He said the designers were facing a number of problems, including a lack of reliable and efficient electronic components. "But we will be able to resolve them," the official said.

The S-500 is expected to have an extended range of up to 600 km (over 370 miles) and simultaneously engage up to 10 targets.

Russia's Defense Ministry has demanded that the system must be capable of intercepting ballistic missiles and hypersonic cruise missiles.