Hideo Kojima has confirmed that Metal Gear Solid 5 is in the works and that it will be built using the Fox Engine. The developer told French magazine IG that the game is in development and will see the return of Solid Snake. At E3 2012, Kojima confirmed that the Fox engine runs on the PS3, Xbox 360 and current PCs.
This means the game will likely be released on current-generation consoles. Not much else is know about the game at the moment, although Eurogamer.fr says, “MGS5 will be more of an infiltration game, with characters who can interact, as seen in Deus Ex: Human Revolution.”