Interceptors have the highest amount of range for a squadron. Out of all base and ship weapons available in game, they are only out ranged by several base turrets such as the Kinetic driver turret.
Interceptors are incredibly light, even the Valhalla carrier can equip four squadrons of Interceptor squadron III with plenty of room for Fusion thrusters and armor. It also has the longest flight time, giving it more time to inflict damage on targets.
Interceptors have far less firepower than all other squadrons, they are less deadly in comparison to Bomber squadrons. They have less armor as well and low speed, making them easier to intercept and giving enemy players more time to react or time for ships to destroy them before they begin to inflict damage.
Many players only equip Interceptor squadrons because they do not have enough room for Bomber squadrons on their Midgard Carrier or Valhalla carriers, or haven't unlocked Bomber squadrons yet.