Thermal insulation of solid rocket motor casing is necessary to overcome the catastrophic breakdown during the rocket propellant combustion. In our study, a comprehensive review on different types elastomeric heat shielding materials (EHSMs) such as polyurethane, silicon rubber, ethylene propylene diene monomer (EPDM) and nitrile rubber was conducted. Various types of fillers are added to the EHSMs to enhance their thermal, mechanical and ablative performances. The charring phenomenon, which offers a means of protection to the virgin polymer layer from direct flame, as well as the synergetic effect, that may occur between fillers and polymer matrices, were studied. All different methods and machines used for manufacturing EHSMs are described in detail. Moreover, the different techniques used to characterize the EHSMs are discussed. Last but not least, the empirical models that relate the thermal insulation performance to the filler concentration are presented.