Development of the M88A2 was started in 1991, after it was realized the A1 version could not tow the M1 Abrams by itself; it required two M88A1s to tow the 70-ton battle-tank. The first M88A2 went into service in July 1997. Only the A2 is called the HERCULES, which stands for Heavy Equipment Recovery Combat Utility Lifting Extraction System.
In May 2010, the U.S. Army’s 3rd Armored Cavalry Regiment was on the National Training Center (Fort Irwin, California) preparing for deployment to Iraq. Here’s a quick explanation of what the M88A2 can do:

U.S. Marine Corps HERCULES lifts a battle damaged French Mirage 2000D, in Helmand Province, Afghanistan.
(See more of the Mirage 2000D crash by clicking here.)
From 1961 to 1994 the M88 was built by a company originally called Bowen & McLaughlin. Here is some confusion; Bowen & McLaughlin supposedly started in Phoenix, Arizona, during World War Two. However, by 1950 Bowen & McLaughlin apparently setup shop in York, Pennsylvania, changing their name to Bowen McLaughlin York (BMY). BMY became a division of U.S. based Harsco Corporation, which ‘went public’ in 1956. In 1994, Harsco and FMC (Food Machinery Corporation) joined forces and created United Defense. Harsco still exists today, but changed its name to Enviri Corporation.

U.S. Marine Corps HERCULES pulls the ‘power pack’ (turbine-transmission combo) of an M1 Abrams, on Combat Outpost Shir Gazay, Helmand Province, Afghanistan.
More confusion; from 1994-2005, M88 production was done by United Defense and Anniston Army Depot. In 2005, BAE Systems took-over United Defense. BAE Systems was created in 1999 when the Italian Marconi Electronic Systems merged with the United Kingdom’s British Aerospace. Since 2005 production is officially done by BAE Systems. The estimated cost of each M88A2 HERCULES is a little more than $2-million (as of the year 2000).
U.S. Marine Corps (USMC) video of their M88A2 crushing a car on Camp Lejeune, North Carolina, 24APR2014:
The ‘A2’ is larger and heavier than the previous versions. A more powerful Diesel piston motor, and efficient transmission, allows the use of only one recovery vehicle to tow the M1 Abrams.
In 2017, the U.S. Army requested that eleven M88A2s be modified with even more powerful power-packs (engine/transmission combo), a hydro-pneumatic suspension and a seventh roadwheel (per side), for a cost of $28-million.
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