Formation Z
Platform: MSX
Region: Japan
Media: Cartridge
Controller: Keyboard
Genre: Shoot 'em Up > Horizontal 
Gametype: Undefined
Release Year: 1985
Developer: Jaleco
Publisher: Nippon Dexter
Players: 1 - 2
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The player competes in a marathon continuous scrolling horizontal shoot-em-up game across land, sea, air and outer space. You can hold down the fire button for a burst of Charged fire, which is especially essential to defeat the bosses.

The player can hold down the Jump button to transform back and forth between a Mobile Robot or an Aero Fighter. Some sections have confrontations on both ground and air; others insist on aerial battling. Your time in the Aero Fighter is limited by its fuel requirement.
 
http://www.mobygames.com/game/msx/formation-z