This report provides the results of our review of the Federal Aviation Administrations (FAA) major acquisitions. At the request of the Chairman and Ranking Member of the House Committee on Transportation and Infrastructure, we updated our May 2005 status report on FAAs major acquisitions and examined how projects are impacted by plans for the Next Generation Air Transportation System (NextGen). Our objectives were to examine (1) overall trends affecting FAAs Facilities and Equipment (F & E) or capital account, (2) recent changes in cost and schedule baselines of FAAs major acquisition programs, and (3) the effect of NextGen plans on existing projects. Our review examined 18 projects valued at $17.5 billion in capital costs. These projects include developing new automated controller tools, acquiring new technologies to prevent accidents on runways and taxiways, and modernizing FAA facilities that manage large segments of airspace over the Atlantic and Pacific oceans. We performed this audit in accordance with generally accepted Government Auditing Standards as prescribed by the Comptroller General of the United States.