Let $\mathcal {P}\mathcal {B}_m$ be the category of all principal fibred bundles with $m$-dimensional bases and their principal bundle homomorphisms covering embeddings. We introduce the concept of the so called $(r,m)$-systems and describe all gauge bundle functors on $\mathcal {P}\mathcal {B}_m$ of order $r$ by means of the $(r,m)$-systems. Next we present several interesting examples of fiber product preserving gauge bundle functors on $\mathcal {P}\mathcal {B}_m$ of order $r$. Finally, we introduce the concept of product preserving $(r,m)$-systems and describe all fiber product preserving gauge bundle functors on $\mathcal {P}\mathcal {B}_m$ of order $r$ by means of the product preserving $(r,m)$-systems.