Which riffle on which SIG SG 550 is based is a 5.56×45mm NATO assault rifle developed in the early 1970s by Schweizerische Industrie Gesellschaft?
SIG SG 550:  The rifle is based on the earlier 5.56mm SG 540 and is also known as the Fass 90 ("Fusil d'assaut" 90/"Fucile d'assalto" 90) in French/Italian or Stgw 90 in German ("Sturmgewehr" 90). SIG SG 540: The SG 540 is a 5.56×45mm NATO assault rifle developed in the early 1970s by Schweizerische Industrie Gesellschaft (SIG, currently SAN Swiss Arms AG) based out of Neuhausen, Switzerland as a private venture primarily destined for export markets and as a potential replacement for the 7.5×55mm Swiss SG 510 automatic rifle known as the Stgw 57 in Swiss service.
The SG 540