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Four markets, in order
What binds you, market by market
The draft is voluntary. The binding duties come from law and from the contracts a very small entity signs. This page states the position for the United States, the European Union, the United Kingdom and Australia, in that order, and says plainly where no held regime prescribes the profile.
United States
No federal statute prescribes the 29110 profile. It is a voluntary guideline. A contract with a prime contractor or a customer can require it, and that contract is the binding instrument. Defence and federal procurement can require a systems engineering method, but the requirement comes from the contract or the agency's supplement, not from the profile itself.
Where a firm sells into a regulated market, the sector regulator's rules govern the system. Those rules are not replaced by the profile. This page does not state a US regulation it does not hold.
European Union
No EU regulation prescribes the 29110 profile. It is a voluntary guideline. Public procurement or a customer contract can make it a requirement. Where a firm sells a regulated product, the product law governs, and the profile is a way of working underneath it.
This page does not state an EU regulation it does not hold. The profile does not create a presumption of conformity with any EU law.
United Kingdom
No UK statute prescribes the 29110 profile. It is a voluntary guideline. A customer or a framework agreement can require it. Public sector procurement may ask for a systems engineering method, and the requirement comes from the procurement documents.
This page does not state a UK regulation it does not hold. The profile does not replace the safety or product law that governs the system.
Australia
No Commonwealth statute prescribes the 29110 profile. It is a voluntary guideline. Defence and government contracts can require a systems engineering method, and some supply chains ask for evidence of one. The requirement comes from the contract.
This page does not state an Australian statute it does not hold. The profile does not replace the work health and safety law or the product law that governs the system.
The one sentence that holds in all four
The profile is voluntary, the contract is binding, and the system law sits above both. A firm that treats the profile as a legal requirement will over-invest in the file and under-invest in the contract. A firm that treats it as irrelevant will lose the bids that ask for it. The useful position is: adopt it because it makes the work repeatable, and say in the bid what the file is and what it is not.