So, where does the Armada Arrow fit into that classification?
There are two kinds of Arrows. You are thinking of the 'point defense' (short range) version - the 'interceptor' is the patrol variant (the Hellcat is also an interceptor). The Wing Commander III novelization explains the difference: "Red Squadron flew Arrow-class point-defense fighters designed to fly close escort for the carrier and other capital ships. Though limited in range and endurance, they were well-armed for their size. In a close combat situation, they'd be worth their weight in platinum. Blue Squadron flew space superiority fighters, Arrow-class interceptors. These had range, speed, and endurance for long patrol operations or sustained dogfights, but they were rather light when it came to arms and armor."