This paper provides a comprehensive analysis of the current status, future plans, challenges, and opportunities associated with the deployment of the Future Railway Mobile Communication System (FRMCS) based on 5G technology in the railway sector. The study utilized a detailed survey distributed to key stakeholders, including engineering firms, consultancy companies, material manufacturers, infrastructure managers, traffic control system experts, and maintenance professionals. The findings reveal high awareness of FRMCS technologies, significant motivations for migration from GSM-R, and positive perceptions of the potential benefits. However, readiness for adoption varies, with notable challenges related to regulatory frameworks, interoperability, and deployment logistics. Expectations for the availability and maturity of FRMCS technologies are moderate, highlighting the need for continued development and standardization efforts. The study identifies critical gaps in 5G technology deployment and emphasizes the importance of strategic planning, cost-effective financial strategies, and robust risk management. The paper concludes with recommendations for future research, including detailed case studies, cost-benefit analyses, regulatory framework development, and strategies for engaging stakeholders. These insights aim to guide the railway sector in leveraging FRMCS for enhanced operational efficiency, safety, and innovation. The Future Railway Mobile Communication System (FRMCS) is a global initiative designed to replace the existing GSM-R system used in railway communications. Leveraging 5G technology, FRMCS offers significant improvements in capacity, reliability, and latency, facilitating the modernization and digital transformation of the railway sector.