The growth of real-time embedded applications has surged in recent years, marked by both an increase in the number and complexity of tasks performed across various industries. Modeling and simulation (M&S) has been used for enhancing product quality while reducing lifecycle costs, primarily through improved testability and maintainability of real-time embedded systems applications, as M&S-based design approach allows for early hardware functionality testing, fosters collaboration between hardware and software teams, and shortens the product development cycle. The discrete-event system specification (DEVS) framework has been used for developing such discrete-event M&S systems. This article starts by highlighting the various DEVS publications in our journal over the past 20 years, reflecting the evolving landscape of simulation methodologies, which we organized into four categories: theory, methodology, tools, and applications. This curated selection reflects the diversity of topics and the evolution of scholarship within the field, encouraging further exploration and innovation. We conclude with recent research in the field, including our own research in real-time embedded systems development using DEVS software for modeling, simulation, and real-time execution of models. This paves the way for future discussions in this important field of research.