A newly modernized AK-47 assault rifle is being debuted in Russia this weekend by its maker, Kalashnikov Concern.

The upgraded weapon features a universal kit, with increased firing capabilities within a range of 300 yards in all weather conditions, an upgrade to the rifle's stock and receiver cover, a modernized handguard and forearm units, a new belt, the translator-fuse and ergonomic grip fire control.

Rostec, the state-owned corporation that promotes Russian enterprises, said the weapon will debut at the May 9 Victory Day parade in Moscow, the day Russia celebrates the end of World War II in Europe.

"Modern rifle range, equipped with a new set of modernization, can be adjusted by any tactical problem and will greatly expand the potential use of weapons," said Sergei Urzhumtsev, deputy general director and chief designer of Concern Kalashnikov.

Rostec said Kalashnikov has developed three variants of the AK-47 that feature additional equipment suitable for use by combined arms units, reconnaissance units and special operations units.

The AK-47, popular with regular military forces worldwide -- as well as with insurgent groups, was first fielded by the Soviet Union in 1948.