One of the most significant decisions about the new missile was choosing the Python 4's aero dynamical configuration. The designers had realized that the Python 4's unique configuration had yet to exploit its full potential. Both missiles rely on aero dynamics rather than on vector steering - a technology which suffers from several problems such as relying on the rocket's fuel that can run out and leave the missile ineffective. The Python 5 missile's aero dynamical configuration contributes a lot to its performance even when its rocket stops working. Moreover, using the same configuration saves millions of dollars in the R&D process.
When this puppy runs "out of gas" at mach 3, it will still be able to steer itself into the target while coasting down!
Agility
Then what makes the Python 5 so revolutionary?
By definition, the Python 5 is considered to be a short range air-to-air missile, yet its range exceeds regular air-to-air missiles, and is more close to what is technically called BVR (beyond visual range) missiles. Those missiles can be shot upon targets which are not visually seen at the moment of launch, and are acquired by the missile itself during its flight path. New technologies implemented in the Python 5 give it maneuvering and launching skills unimaginable just few years ago. Instead of talking about certain “killing hemisphere” we are talking about an ability to shoot any target at any angle, including backwards launch (!). This ability is possible by applying LOAL (lock on after launch) technology. In oppose to LOBL (lock on before launch), that is used in all short range air-to-air missiles (excluding the Python 5 of course) in LOAL mode the pilot can launch a missile without being locked on the target, by getting the aircraft's estimated location from an array of sensors which are deployed on the launching aircraft. From the moment the Python 5 is launched, its head seeker scans the designated area constantly while it flies in a direct path to the estimated location of the target. Once the missile “sees” the target, it employs its unique, first of its kind, electro-optical head-seeker and locks on the target. Then the missile switches to a close hunt combat which holds no future to the target aircraft. 
Eyes
Conventional air-to-air missiles see targets as dots - a fact which makes it hard for the missile to tell between true or false targets .The Python 5's head seeker literally sees a clear image of the target and background, giving it an incredible advantage over other missiles by authenticating the target, thus reducing the chance of being mislead by counter measures. Using this technology allows the luxury of locking on a target after the launch. The transition to this unique technology required a development by RAFAEL, which exists in only several countries in the world. Using an electro-optical head seeker also makes it easier to locate and lock on low-heat signature aircrafts such as UAVs, helicopters or even cruise missiles. These aircrafts can fly very close to the ground and can be very hard to detect using regular head seekers. The Python 5 with the electro-optical head can easily accomplish that, by creating a sharp target image and locking on it. In order to achieve perfect performance and tracking ability, the engineers at RAFAEL tested the Python 5 against all advanced counter measures. Usually this is a tough challenge, as the missile would have to handle counter measures in the future. But that was not an impossible challenge to RAFAEL, which also develops the future counter measures. The unique head-seeker also extends the lethality of the missile by aiming it to the target's most vulnerable areas. Most heat seeking missiles tend to home on the hottest spot of the aircraft which is normally the rear exhaust system. In modern combat history, some aircrafts that were hit by a missile in that area, managed to survive the flight until the landing. The Python 5, which acquires a sharp image of the target can home on the most critical areas of the aircraft, such as the cockpit or the central area, and significantly improve the chances for a shoot down.
Testing
the Python 5 was ready to take a test which seemed to be impossible to several people at the Israeli air force. The target was a low-signature UAV which was flying at low altitude in a hot desert area. Not like the previous test of the Python 4, the UAV was not equipped with a flare to make it easier on the missile. When looking at the video of the head-seeker, it is very hard to see the target in a human eye. The missile was about to be launched from an F-16, flying 15,000 feet above the UAV. According to plan, the Python 5 was launched from the F-16, and started to fly sharply downwards, chasing the target. In the video, the UAV can be identified only few seconds before the missile reaches it, but the Python 5 locked on the target long before that. The test was crowned to be a complete success, and the Python 5 proved itself to be the best air-to-air missile in the world. Until then, no missile in the world could perform such shot down. But that was just the beginning. The second missile...
This missile can be fired into a dogfight of enemy and friendly aircraft and it will seek out only enemy aircraft based on the shape of the targets it sees! It can follow a target emitting no heat from a look down mode against any background because it is not looking for heat spots, it is looking for Aircraft, and knows what type it is when it sees it.
Length 3096 mm
Span 640mm
Body 16 cm
Weight 103.6 kg (warhead over 11 kg)
Guidance Type Electro-Optical
Model 1 x spr.
Speed 4 Mach
Range More than 20 km
Wanna re-think that "third party" comment? -grin-
Israel is not selling American Technology to others, It already has the best, thanks to Clintoon shooting down all Missile system R&D during his mismanagement of the White House.