The escalating demand for energy in recent years has been met with significant challenges, including resource scarcity and stringent environmental laws, which have curtailed the expansion of power generation and transmission capacity. As a result, the load borne by certain transmission lines has notably increased, which in turn raises concerns about the system's transient stability (TS). The rapid growth of renewable energy sources in power networks further compounds this issue. Despite sharing similar penetration levels, different renewable energy sources, such as wind and solar, and their combinations can have varied impacts on the system's TS. This paper conducts a comprehensive review of recent research and developments in power system TS. The focus is on the utilization of hybrid generating systems to address TS issues. The aim is to understand how different types of hybrid systems can enhance transient stability, with a comparative analysis on the advantages and disadvantages of each strategy. Furthermore, the role of Flexible AC Transmission System (FACTS) devices in improving transient stability is examined, along with the potential for synergistic use of both methods.