The IL-2M (1943), also referred to as the "IL-2 production of 1943", was a variant of the IL-2 family. It was produced from November 1942 to December 1943 and units began receiving this variant in the early months of 1943. Main differences between the IL-2M (1943) and earlier IL-2s included an improved AM-38F engine which allowed a return to the relatively high bomb load capacity of around 600 kg. The AM-38F ran at a higher RPM and included a 10-minute "forsazh" (WEP) mode. It also featured a stronger engine block and camshafts. However, it didn't escape the earlier AM-38 and even earlier AM-35A's tendency to overheat and also had reduced compression. Nonetheless, the AM-38F significantly increased the IL-2's capability.

The IL-2M (1943) was introduced in Update 1.49 "Weapons of Victory". It features two 23 mm VYa-23 cannons with 150 rpg and two 7.62 mm ShKAS machine guns with 750 rpg. The VYa cannons have access to a handful of ammunition belts. The armoured target belt has AP rounds that can penetrate up to an impressive 46 mm of armour. There is also a 12.7 mm machine gun behind the pilot which has limited firing angles especially when firing at targets below the aircraft. The IL-2M (1943) has a good variety of ordnance and players will be satisfied with its capability against ground targets.