The superiority of Ferromagnetic Shape Memory Alloy（FSMA）in fields of smart materials and its applications is described.The development course and research status of FSMA devices and the analysis theories of the systems based on FSMA devices are also introduced.The technical indexes of FSMA devices including frequency

output force and maximum displacement are also introduced.The analysis theory based on electromagnetics

thermodynamics and mechanics of the systems with FSMA devices is discussed. Then

the limitations of the two fields in actual application are pointed out for further research. Thus

it can be concluded that there is a good application prospect for FSMA owning to its unique properties. It should be improved in the fields of device development and system analysis theories.Some problems and challenges such as new FSMA devices in fields more widely and analysis theories for systems based on FSMA devices need to be further studied.