Consistently rising environmental concerns and depleting petroleum resources have accentuated the need of sustainable, energy efficient and clean means of transport. This has provided the impetus to the research and development of clean alternatives for existing public transportation systems. Development of linear motor-propelled, contact-less maglev systems is considered a promising alternative to conventional on-wheel rail transport technology. Maglev technology primarily focuses on improving the performance, speed, fuel economy, driving range and operating cost of the transit system. These parameters vary with the design and efficiency of the electrical system used in maglev-based transportation systems. To present this study, firstly, a detailed survey of the important constituents of a maglev electrical system has been carried out with techno-economic perspectives. Contemporary maglev technologies have then explored along with their respective advantages and limitations. Electrical systems form the heart of maglev systems and, therefore, this paper presents the components of a standard electrical system together with the comparative analysis in terms of present trends, ongoing technological advancements and future challenges.