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Milwaukee M12 FUEL 3497-22 vs Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries

Buy the M12 FUEL 3497-22 if you want a compact drill and impact driver for cabinet work, electrical, and tight spaces. Buy the M18 2992-22 if you need full-size hammer drilling and a circular saw for framing and decking. The M12 kit is $213.89 at Walmart as of November 3, 2026, against $479.01 at Walmart for the M18 kit.

Today the Milwaukee M12 FUEL 3497-22 costs $265.12 less at its best price.

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Milwaukee
Milwaukee M12 FUEL 3497-22

Milwaukee M12 FUEL 3497-22

4.6· 547 ratings
$213.89at WalmartObserved at 7:06 AM
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Choose the M12 FUEL 3497-22 if you work in tight spaces and want a small drill plus impact driver that share one 12V battery system.

Pros
  • Very compact drill and impact driver for tight spaces
  • Two batteries of different sizes: 4.0 Ah for runtime, 2.0 Ah for light weight
  • Brushless FUEL motors with REDLINK PLUS electronics
  • Shares batteries with over 125 M12 tools
  • Rated 4.6 out of 5 from 547 ratings
Cons
  • 12V power limits it on large holes and heavy fastening
  • No saw in the kit
  • No hammer mode on the drill
  • Listed as pre-order with an estimated ship date of October 16, 2026
  • No NRTL listing certification shown
Milwaukee
Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries

Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries

$479.01at WalmartObserved at 8:35 AM
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Choose the M18 2992-22 if you need an 18V hammer drill with 725 in-lb of torque and a circular saw for cutting lumber.

Pros
  • 18V hammer drill with 725 in-lb of torque
  • Circular saw with 2-1/2 in cut depth at 90 degrees
  • Two 4.0 Ah batteries included
  • Brushless motor and variable speed from 500 to 1,800 rpm
  • Hammer mode for masonry and concrete
Cons
  • Costs more than twice the M12 kit
  • Heavier and bulkier for overhead or cabinet work
  • No impact driver in the kit
  • Only one store prices it new
  • Price has not moved since October 30, 2026

What separates them

Milwaukee M12 FUEL 3497-22Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries
Battery platform12V M12, compatible with over 125 M12 tools18V M18, the larger Milwaukee platform
Tools in the kit1/2 in drill/driver and 1/4 in hex impact driver1/2 in hammer drill and circular saw
Max torqueNot published for the drill; subcompact class725 in-lb on the hammer drill
Speed rangeVariable speed, fastest speed under load in its class500 to 1,800 rpm
Cutting capacityNone; no saw included2-1/2 in max cut depth at 90 degrees
Size and weight8.2 lb kit; shortest drill in its class4.6 lb assembled weight listed; larger footprint
Batteries includedOne 4.0 Ah XC and one 2.0 Ah CP, plus chargerTwo 4.0 Ah batteries, plus charger
Price as of November 3, 2026$213.89 at Walmart$479.01 at Walmart

Price history

$479.01$189.00
Oct 30Nov 3
  • Milwaukee M12 FUEL 3497-22: lowest $189.00 on Nov 2 at Amazon; $199.00 on Nov 3.
  • Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries: lowest $479.01 on Oct 30 at Walmart; $479.01 on Nov 3.

Prices at every store

Milwaukee M12 FUEL 3497-22

  • WalmartNew

    In stockSold by Seller

    $213.89Observed at 7:06 AM
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  • Home DepotNew

    In stock

    $269.00Observed at 7:06 AM
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Also available at

  • WalmartCheck price at Walmart
  • Max ToolCheck price at Max Tool
  • Ace HardwareCheck price at Ace Hardware
All 2 stores and price history →

Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries

  • WalmartNew

    In stock

    $479.01Observed at 8:35 AM
    Visit store

Also available at

  • WalmartCheck price at Walmart
Prices and history →

Specs compared

SpecMilwaukee M12 FUEL 3497-22Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries
size14.530 x 3.860 x 10.200 inMaximum Cut Depth @ 90 Deg. 2-1/2 in Product De…
BrandMilwaukeeMilwaukee
Power typeBatteryBattery
Volts12 V18 Volts
Battery capacity4 Ah4 Amp Hours
Is variable speedYY
Charger includedYY
AccessoriesHammer Drill, 2 Batteries, Carrying Case, Impac…Carrying Case, Side Handle, Belt Clips, Bit Hol…
Amps4 A4 Amps
Watts240 Watts800 Watts
Model3497-222992-22
Battery TypeLithium-ionLithium-ion
Show all 40 specsShow fewer specs
SpecMilwaukee M12 FUEL 3497-22Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries
Brushless MotorYesYes
Soft CaseYesYes
Number Of Tools2 piece2 piece
Case IncludedYesYes
With Multiple BatteriesYesYes
colorRed—
Batteries inclY—
Pieces2—
Number of batteries2—
Weight

What reviewers say

Milwaukee M12 FUEL 3497-22

Owners who received the kit praise the compact, powerful drill and impact driver pair and call it good value. Most complaints concern order fulfilment and packaging rather than the tools.

Pros
  • Compact, small form factor
  • Powerful performance for 12V
  • Good value for the combo kit
  • Well built, with 4Ah and 2Ah batteries plus charger
Cons
  • Order arrived incomplete
  • Item never received; refund took months
  • Package appeared previously opened or a return
  • Delivery sent to wrong address

Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries

Owners of the 2902-20 drill and M18 circular saw generally rate both tools highly for power and build quality, and combo buyers like getting two tools on one battery platform. The most common complaints are battery runtime on the saw and the kit shipping with only 4.0 Ah packs.

Pros
  • Drill has strong torque for its compact size
  • Saw cuts framing lumber cleanly and consistently
  • Batteries and charger work across the whole M18 line
  • Tools feel durable and well built
Cons
  • Saw drains 4.0 Ah batteries quickly under heavy cutting
  • Some wish the kit included a larger battery or a hard case
  • Soft bag offers less protection than a molded case
Reviews
  • Complaint Regarding Milwaukee Package Condition
  • Truly compact, surprisingly powerful & well built

Questions and answers

Which is better for cabinet and electrical work?
The M12 FUEL 3497-22. Its drill and impact driver are the most compact in their class, which helps in tight cabinets and between studs. The M18 kit's hammer drill and saw are built for larger framing work.
Which has more power?
The M18 2992-22. Its hammer drill is rated at 725 in-lb of torque on 18V. The M12 kit is a subcompact 12V system, strong for its size but not matched to heavy drilling.
Do I need the circular saw?
Only if you cut lumber or sheet goods. The M18 kit pairs the saw with a hammer drill, so it covers framing and decking. The M12 kit has no saw, so you would buy one separately.
Is the M18 kit worth the extra money?
If you need 18V hammer drilling and a saw, yes. At $479.01 at Walmart as of November 3, 2026, it replaces two separate tool purchases. For light assembly and driving, the $213.89 M12 kit at Walmart covers more of that work.
Which kit lasts longer per charge?
The M18 kit ships with two 4.0 Ah batteries, so both tools run on the larger pack. The M12 kit includes one 4.0 Ah and one 2.0 Ah battery, and the compact 2.0 Ah pack gives less runtime.
Can I share batteries between the two kits?
No. The M12 kit uses 12V M12 batteries and the M18 kit uses 18V M18 batteries. Each kit's batteries work across the rest of its own platform.

More comparisons

  • Milwaukee 3697-22 M18 FUEL 18V Brushless Cordless 2-Tool Combo Kit – Hammer Drill & Impact Driver vs Milwaukee M12 FUEL 3497-22
  • Milwaukee M12 FUEL 3497-22 vs Milwaukee M12 Subcompact Brushless 2-Tool Combo Kit
  • Milwaukee 3497-22 M12 FUEL 2-Tool Combo Kit vs Milwaukee M12 FUEL 3497-22
  • Milwaukee M12 FUEL 3497-22 vs Milwaukee M12 FUEL Hammer Drill + Impact Driver Combo Kit
  • Milwaukee M12 FUEL 3497-22 vs M12 FUEL 12-Volt Lithium-Ion Brushless Cordless Hammer Drill and Impact Driver Combo Kit w/2 Batteries and Bag (2-Tool)
  • Milwaukee M12 FUEL 3497-22 vs Milwaukee M18 18-Volt Lithium-Ion Brushless Cordless Compact Drill/Impact Combo Kit (2-Tool) W/ (2) 2.0Ah Batteries, Charger & Bag
  • Milwaukee 2992-22 M18 18-Volt Lithium-Ion Brushless Cordless Hammer Drill and Circular Saw Combo Kit (2-Tool) with Two 4.0 Ah Batteries vs Ryobi 18V ONE+ 8-Tool Combo Kit
  • Milwaukee M12 FUEL 3497-22 vs Milwaukee M18 Fuel Hammer Drill and Impact Driver Set – Gen 4 (3696-22/3697-22)

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8.2 lb
—
Product lineM12 FUEL—
Cord length3 ft—
Piece count2—
Battery size18490—
Has nrtl listing certificationN—
ManufacturerMilwaukee—
Weight (Lbs)8.5—
Power SourceCordless—
Tool ComponentsM12 FUEL 12V Cordless Li-Ion 2-Tool Combo Kit—
Battery Voltage12 Volts—
Motor TypeFUEL—
Case TypeContractor Bag—
Included AccessoriesM12 Charger, Contractor Bag—
Model NumberMIL349722—
PlatformM12 FUEL (Brushless)—
Chuck type—Hex
Chuck size—1/2 in
Maximum speed—1800 rpm