The company has produced the rifles since 1962. All are based on the same frame; they use centerfire bolt action, have a 3, 4 or 5-round internal magazine, and can accept third-party telescopic sights and rifle stocks (companies like McMillan and Choate Machine and Tool manfacture tactical rifle stocks for the Remington Model 700 rifle). Some variants can mount bipods, slings and other accessories. Some Model 700 rifles are made with detachable magazines, for faster reloading.
Both the U.S. Army's M24 SWS and U.S. Marine Corps' M40 sniper rifles are built from the Remington Model 700 rifle, in different degrees of modification. Around 90% of the police sniper rifles in the United States, as well as in a number of countries outside of the United States, are built from Remington Model 700 rifles, specifically the discontinued Remington 700 PSS model.
Remington also markets the Model 700 rifle to military forces and law-enforcement agencies under the Remington Law Enforcement and Remington Military banner, with the military/law enforcement Model 700s being called the Model 700P ("P" denoting "Police"). The Remington Model 700P rifle series appears to have been influenced by the designs, the features, and the success of the M24 SWS and the M40 series, with one feature of the Model 700P series rifles being the heavier and thicker barrel that comes standard with the Model 700P rifles (a feature that came from the M24 SWS, the M40, and the various Model 700 rifles used by police marksmen over the world before the Model 700P came into existence). There are two main models of the Remington Model 700P series rifles — the standard Model 700P and the Model 700P Light Tactical Rifle (LTR). Both rifles also come in a Tactical Weapons System (TWS) package in which the rifles are sold with telescopic sights, bipods, and carrying cases for the rifle.
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