The system is designed to defeat modern tanks and other armor materiel, as well as field fortifications such as pillboxes, irrespective of passive or active infrared disturbances.

The Malyutka-2 is an upgraded version of the Malyutka and differs from the latter in a more advanced missile. This antitank guided missile features new propellant grains for a booster and sustainer, a new powder charge and more powerful HEAT or HE warheads. The ATGM has increased mean speed of flight. The upgraded missile can be launched from all standard launchers intended for the Malyutka system: 9P111 portable backpack-case; 9P110, 9P122, 9P133 combat vehicles; and launching guides mounted on tanks and helicopters.