IAMCO manages the Depot Level Maintenance (DLM) work and services consisting of the maintenance of the air vehicles (B707 platforms), engines (Pratt & Whitney TF-33), the aircraft and mission system components.
This involves overhaul, rebuilding of parts, modification, testing, calibration and engineering services.

IAMCO is also responsible for the management of the Industrial Collaborative Effort meaning the distribution of DLM to the industry of the NATO participating nations.
The IAMCO challenge is to ensure that 100% of the value of the aggregate payments made under the NSPA/IAMCO contract is returned to Nations through Industrial Collaboration and/or Offsets.

Presently, there are more than 30 firms in 16 countries subcontracted by IAMCO which has the overall responsibility for its subcontractors.