The only visible and mechanical difference is the IZH-46M is built with a slightly longer (0.5" or 12 mm +/-) air compression cylinder.

As all other components except chamber length and piston stroke are the same, visually the original IZH-46 barrel appears to extend further beyond the air compression cylinder than the current IZh-46M.

The extra length of the air compression cylinder allows the 46M to have a 60 ft/s (18 m/s) increase in muzzle velocity over the original 46.

[1] In either original IZH46 or current IZH46M form, the pistol is a very consistent shooting precision 10 m airgun.

Though more expensive than many commonly available airguns,[clarification needed] the IZH-46M is inexpensive in comparison to many similarly featured competition guns.