During February of 1943 the Navy requested to investigate ways to increase the power of the Avenger. In response undertook a design study of an improved Avenger with a 2000 hp R-2800 engine and a 250CE turret. The high demand for the engine for other higher priority aircraft prevented the design study from progressing but the need for additional engine power for the Avenger was now recognized.

The TBM-3 retained the gun armed wing of the TBF-1C with Mk 5 zero-length rocket launchers standardized in place of the earlier Mk 4 rocket rails. The cockpit instruments were re-arranged and to improve the pilots night vision the instrument panel lighting was changed from direct ultra violet lighting to indirect red lighting.