The FM2 originally used an advanced Nikon-design, metal-bladed, bearing-mounted, vertical-travel purely mechanical focal plane shutter with a (then unheard-of) speed range of 1 to 1/4000th second plus Bulb, plus a fast flash X-sync of 1/250th second.

[2] The FM2's film transport consists of high-strength hardened metal gears and moving parts, mounted on clusters of ball bearings.

The FM2 also features Nikon's close tolerance assembly and minimal space lubrication, meaning that it will reliably operate in temperature extremes of −40 °C to +50 °C.

IX Nikkor lenses (1996), for Nikon's Advanced Photo System (APS) film SLRs, must not be mounted, as their rear elements will intrude far enough into the mirror box to cause damage.

During the early 1980s, Nippon Kogaku manufactured approximately 70 different types of manual focus Nikkor AI-S and Nikon Series E branded lenses.

The exposure control system used vertically arranged +/o/– light emitting diodes (LEDs) on the right side of the viewfinder to indicate the readings of the meter versus actual camera settings.

The major improvements in the FM2 compared to the FM were limited automatic dedicated electronic flash control and a mechanically timed vertical metal shutter (bearing mounted for reduced friction and extended life) reaching a top speed of an unprecedented 1/4000th second, with an X-sync of 1/250th second.

The FM2 was not designed for budget-minded snapshooters who would never bother to learn to use shutter-speeds and aperture settings, but rather was intended to appeal to serious photographers who demanded a tough, rugged camera.

Nippon Kogaku believed that advanced photographers were not interested in every possible automated bell and whistle, but rather in high quality and precision workmanship.

[citation needed] Many professional photographers continue to use the FM2 as a backup camera, both because of its ruggedness and because it is capable of full mechanical operation with all features except the light meter, even without a battery.