Valued at $17.9m, the latest order forms part of the letter of intent concerning the Swedish armed forces’ underwater capability, which was rolled out on 9 June.
Saab business area security and defence solutions head Gunilla Fransson said: "Maintenance of Swedish surface vessels and submarines is an important part of our ongoing business.
"It is also important to ensure the customer’s long-term operational capability."
To be executed during 2014 to 2015, the overhaul involves the implementation of the required assessments to assure the submarine’s operational availability.
The Swedish Navy conducts a submarine overhaul programme once every six years.
One provision of the contract is to define future needs for maintenance, which could result in additional work being contracted separately during the period.
Work under the contract will be executed at the Saab Kockums shipyard in Karlskrona, Sweden.
Saab has also been contracted by the FMV to upgrade the navy’s Torpedo 62 heavyweight system, dubbed Torpedo 2000, and support underwater weapon systems.
Currently, all Gotland-class submarines are equipped with the torpedo system, which fires from 21in tubes.