The real M16A3.
In the early 90s, Colt, the manufacturer of M16, came up with a full auto version of M16A2, officially named M16A2E3. After testing in Navy Seals operations, it was then assigned to Navy Seabee (CB, Construction Battalion), however marine corps and army never issued M16A2E3.
Its name was never publicly announced and only mentioned in combat handbooks. Thus some soldiers would mistake it as a M16A2 modified to full auto, which is technically true.
Colt's M16A3 - RO 901
Beside the M16A2E3, there was at the same time another project from Colt aimed to upgrade M16, called M16A2E4, which the upper receiver was swapped out with Picatinny rail (flat top) to provide better platform for advanced optics. It was expected by the company to be officially M16A3.
But in the end the military chose M4 carbine over it as the new standard issue rifle, so the project needed to go foreign for sales. Colt then made it into two models - one full auto, called RO 901, and a burst version called RO905, and then began to export them to countries like Israel. The RO 901 was further given the name they wished it could be but failed to - M16A3.
Later in Iraq and Afghanistan War, the military began to realize that M4 wasn't capable enough due to its short effective range. The long abandoned M16A2E4, then came into consideration again. After a long debate, marines agreed to replace most of its M4 with M16A2E4, which had already been further upgraded with additional KAC M5 rail and officially named M16A4.
The RO 901 then later got recategorized under M16A4 family as its full auto version for foreign market. Many believe Colt did this to prevent confusions from M16A2E3.
FN's M16A3
Although Colt came out with the idea of M16A2E3, FN Herstal, the famous Belgian manufacturer, won some of the contracts of production, too. So when a Navy got his new M16, it could be made by either Colt or FN. Beside quality, the main difference between products from the two factories is the rollmark.
On Colt's M16A2E3, it would be printed "M16A2E3".
The FN's M16A2E3 on other hand, would have simply "M16A3". which further implies that M16A2E3 was made to be M16A3.
So many A3 out there
There are in total 3 M16A3s that have been rumored for years. One is the real M16A2E3 used by navy, sometimes called M16A3 if made by FN, another is RO 901 from Colt which is actually part of M16A2E4 family, and the other is the imaginary A3 that appeared in many films and video games, which is, well, nonexistent.





PS Перевод делать очень лень, но если очень надо, то позже могу сделать