In recent years, CubeSats have gained popularity as secondary payloads in space missions due to their uniquely small size and minimal weight. This allows for the quick and inexpensive development of high-risk, high-reward investigations. The success of cube-shaped CubeSats has led to the development of a new class of small-scale and low-cost scientific platforms known as CanSats, which maintain a unique cylindrical shape. CanSats offer an even more economical alternative for conducting high-risk investigations, although they are typically constrained by having to operate within Earth’s atmosphere, which contributes to their reduced costs. However, the ability to test and improve space-bound hardware makes the CanSat a potential intermediary technology for continued space exploration. This survey paper seeks to provide a technical definition of CanSats and summarize the current state of the art in CanSat-based research. This paper covers the history of CanSats, their current mainstream applications, and their potential impact on the technology pipeline for space exploration. CanSats have proven to be versatile in various applications, including Earth science, aeronautics, and educational purposes. The lower cost of CanSats provides a wider range of researchers and educational institutions access to near-space science. Therefore, this paper also aims to explore the potential future applications of CanSats, particularly as an intermediary technology for testing and improving space-bound hardware, with potential benefits for future space missions. The findings from this survey could help to guide the further research and development of CanSats, as well as help to shape future space exploration efforts.