Ultrabroadband systems and ultrafast electronics require the generation, transmission, and processing of high-quality ultrashort pulses ranging from nanoseconds (ns) to picoseconds (ps), which include well-established and emerging applications of time-domain reflectometry, arbitrary waveform generation, sampling oscilloscopes, frequency synthesis, through-wall radar imaging, indoor communication, radar surveillance, and medical radar detection. Impulse radar advancements in industrial, scientific, and medical (ISM) domains are, for example, driven by ns-scale-defined ultrawideband (UWB) technologies. Nevertheless, the generation of ultrashort ps-scale pulses is highly desired to achieve unprecedented performances in all these applications and future systems. However, due to the variety and applicability of different pulse generation and compression techniques, the selection of optimum or appropriate pulse generators and compressors is difficult for practitioners and users. To this end, this article aims to provide a comprehensive overview of ultrashort ns and ps pulse generation and compression techniques. The proposed and developed pulse generators available in the literature and on the market, which are characterized by their corresponding pros and cons, are also explored. The theoretical analysis of pulse generation using a nonlinear transmission line (NLTL) presented in the literature is briefly explained as well. Additionally, a holistic overview of these pulse generators from the perspective of applications is given to describe their utilization in practical systems. All of these techniques are well summarized and compared in terms of fundamental pulse parameters, and research gaps in specified areas are highlighted. A thorough discussion of previous research work on various topologies and techniques is presented, and potential future directions for technical advancement are examined.