The M1248 Caiman Multi-Theatre Vehicle (MTV) is the latest addition to Caiman 6x6 family of vehicles.  It follows on the heels of the M1230 Caiman Plus Tactical Vehicle System. Also known as the Caiman Multi-Terrain Vehicle by BAE Systems, the vehicle contains many upgrades and improvements upon the earlier Caimans.  Improvements include the fitting of the Arvin Meritor Pro-Tec Series 50 heavy duty Independent Suspension System, an upgraded powertrain, a more powerful engine, an upgraded Heating, Ventilation and Air-Conditioning (HVAC) system, the addition of the Caiman Underbody Survivability Kit, enhanced monolithic floor plate, blast-absorbing seating, larger rear doors and the addition of a rear loading ramp.

Despite the changes, the Caiman MTV vehicles are still very similar to the earlier Caiman MRPV's.  They are also fitted with a Low Signature Armored Cab (LSAC) and based upon the 5 ton MTV chassis of the Family of Medium Tactical Vehicles (FMTV). Also developed and built by Stewart & Stevenson Services, they too contain a large percentage of shared components with the FMTV trucks, which is a distinct advantage for servicing and supplying the vehicle fleet.

Three variants of the MTV are planned for production or conversion from earlier Caiman or Caiman Plus Vehicles.  They are the Ambulance, Command and Control On-The-Move (C2OTM) Vehicle and Troop Carrier.