• FAA sets 28 May 2027 deadline for SMS compliance under 14 CFR Part 5.
• Affected operators include Part 135, §91.147, and certain Part 21 certificate holders.
• Operators must submit Declaration of Compliance by the deadline.
• Failure to comply may result in enforcement and certificate action.

This deadline may indicate the FAA's increasing emphasis on safety management systems. The requirement could suggest a shift towards more stringent safety regulations, which may impact operators' compliance costs and potentially influence the market's perception of safety standards. The deadline may also indicate a growing trend of converting voluntary safety practices into binding certificate conditions.