Part III of this overview presents a summary of the potential multifunctional applications of MAX phase materials. Coatings of these materials have been investigated for a range of uses, such as for: high-temperature electrical contacts, microelectronic layers, magnetic and optical materials, fuel holder protection in the nuclear industry, oxidation, corrosion and erosion protection, biocompatible material, thermal barriers, protective aerospace coatings and as armour in defence applications. What makes this material useful for many of these applications is its excellent mechanical properties, damage tolerance, self-healing, high-temperature melting point, and its outstanding oxidation, corrosion and abrasion resistance. Particular attention is given to an aircraft engine's design and the related materials challenges. A comparison is made to the currently utilized turbine surface coatings, as well as the motivation behind the usage of these new high performance MAX phase coatings, the nature of their protection/wear and other strengths/weaknesses.