The Swedish Defence Material Administration (FMV) has awarded a contract to Saab to upgrade the Torpedo 62 heavyweight system, known as Torpedo 2000, for the Royal Swedish Navy.

Under the contract, Saab will provide new and improved functions for communication and warhead initiation to the Torpedo 62 system and help enhance major system capability.

The company has also been contracted to provide support for the underwater weapon systems in support of the Swedish Navy.

"BAE will provide solid ballast installation, enclosure of the quarter deck and install a new solid waste management system, as well as a new high-frequency broadband system."

Saab business area dynamics senior vice president and head Tomas Samuelsson said the upgrade on the torpedo would result in improved functionality and increased capability.

Featuring an advanced propulsion system to enable high-speed and long endurance, as well as an active/passive homing system, the Torpedo 62 advanced heavyweight system is an anti-submarine/anti-surface torpedo with a range of more than 40km and a speed of 40k.

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Capable of striking enemies underwater and on the sea surface, the system also features multiple guidance modes and provides enhanced target combat capability in the tactical and technical deployment.

The weapon is also capable of destroying or disabling all types of surface vessels or submarines and can be launched from both submarines and surface vessels.

Currently, the torpedo system is deployed onboard Swedish Navy’s Gotland-class submarines, which are fired from the 21in tubes.

The two contracts are valued at Skr194m ($29.2m), while deliveries are scheduled to take place from 2013 to 2016.