Additive manufacturing or 3D printing technology is used to create a component by adapting layer by layer method. The adroitness of additive manufacturing in creating a complex geometry as a whole is very much harnessed by the aerospace Industry. Generating a component using additive manufacturing involves optimal design, methods, and processes. This review gives a broad knowledge in developing a part or product by choosing the appropriate design, method, and processes. The end-to-end flow process (from scratch to finished model) for developing a component by additive manufacturing is described with a detailed flow diagram. The flow process proposed in this review will act as a primary source for manufacturing any component as per the industry standards. Also, the role of additive manufacturing in the aerospace industry is the need of the hour and greatly in demand of innovative ideas. But as an infant technology, AM for aerospace has its fair share of issues The paper discusses issues and challenges of AM for aerospace applications to enable the widespread adoption of additively manufactured components in the aerospace industry.