This paper primarily discusses the current capabilities and future trends of Electron Beam Technology (EBT), which is a metal additive manufacturing (AM) process. EBT, comparatively a young technology, is used to produce whole metallic components directly from the electronic data of the desired geometry. Its applications have extended in various industries with broad attention to aerospace and biomedical fields. This paper discusses the diverse prospects of EBT mainly for existing and future materials design. Powder manufacturing and materials characterization techniques are noted down with a focus on powder metallurgical requirements. A vital parameter development platform is also discussed. Finally, the current challenges and the remedies to overcome the challenges with the future outlook are discussed and presented. Graphical Abstract