For sure it does.
Imagine this scenario..
You are a Boeing technician.
You open some control panel..
Its full of a zillion wires..
you flip through a mammoth manual to locate one you need to tinker with...

Instead, with augmented reality:
You are wearing awesome augmented reality glasses.
You open some control panel..
Its full of a zillion wires..
Your glasses, equipped with a camera identify the panel, query an online database, download the data, and depending on the maintenance job you would have entered earlier, highlight the right wires for you :P
This is just one application..
Consider driving with an Augmented reality GPS projecting on your windshield..
The possibilities are endless!