This paper reviews the state of the head-disk interface (HDI) technology, and more particularly the head-medium spacing (HMS), for today's and future hard-disk drives. Current storage areal density on a disk surface is fast approaching the one terabit per square inch mark, although the compound annual growth rate has reduced considerably from ∼100%/annum in the late 1990s to 20-30% today. This rate is now lower than the historical, Moore's law equivalent of ∼40%/annum. A necessary enabler to a high areal density is the HMS, or the distance from the bottom of the read sensor on the flying head to the top of the magnetic medium on the rotating disk. This paper describes the various components of the HMS and various scenarios and challenges on how to achieve a goal of 4.0-4.5 nm for the 4 Tbit/in 2 density point. Special considerations will also be given to the implication of disruptive technologies such as sealing the drive in an inert atmosphere and novel recording schemes such as bit patterned media and heat assisted magnetic recording.