Infrastructure projects are considered as one of the major backbones of country’s economic growth and utmost care is necessary to protect these structures from damages due to earthquakes. The development of smart materials is effective in improving the performance of structures when subjected to severe damages due to earthquakes. Shape memory alloys are one such promising material because of its unique property of returning back to their original underformed shape even after undergoing large deformation. Ni-Ti being the most extensively used SMA, it is very costly material and hence ferrous-based alloys are getting more attraction in recent years due its cost-effectiveness and easy manufacturing process. Some notable features of Fe-SMA are high tensile strength, excellent shape recovery stress, and excellent low-cycle fatigue (LCF) resistance. This paper focuses on Fe-based SMA to be applied as a reinforcement bar in bridge piers for better seismic resistance. A few researches are already made in utilizing this Fe-based SMA, in retrofitting and strengthening of RC structures, but only a handful of researches are being made in applying this material in new structures. Hence, this alloy if used as a rebar in bridge piers it can be effective in controlling damages due to earthquakes. This paper also highlights the application and FEM analysis of ferrous-based shape memory alloy and comparison of properties with Ni-Ti alloys, to be effectively used as an alternative to Ni-Ti bars in bridges. Material modeling of this material is also done through FEM, which can be used to validate the results post-experimental work.