The M31 HEAT is a fin-stabilized anti-tank rifle grenade designed in the late 1950s to replace the Belgian ENERGA rifle grenade which was adopted by the US Army and US Marines as an emergency stop-gap measure during the Korean War.

Like the ENERGA, it has a nose-initiated, based-detonated HEAT warhead, but unlike the ENERGA, the mechanical impact fuse system is replaced with a less complex and more reliable piezo-electric fuse system which also allows higher angles of impact, up to 65 degrees.

While claimed to be effective against main battle tanks (except in frontal engagements) and lightly armored vehicles when first introduced, in 1972 the US Army stated in its revised anti-armor warfare manual that the M31 HEAT was only effective against light tanks and thin-skinned vehicles.

On firing, the sudden launch acceleration causes the set-back's three disks to rotate 90 degrees, each in succession to the other, with the rotation of the third disk removing the grounding after approximately 10 meters of flight and completing a firing circuit for the current to flow from the nose to the detonator in the base.

Various US military manuals issued in 1972 still had sections on the M31, but by the end of the Vietnam War, both the US Army and US Marines had essentially phased out muzzle-launched rifle grenades, in favor of the M72 LAW disposable rocket in the anti-armor role and the M203 under-barrel grenade launcher in the squad fire-support role.