Double heterojunction semiconductor diode lasers operating in an external cavity can be actively and passively mode-locked to produce continuous trains of picosecond pulses of around 1 W peak power. These lasers, which are also frequency tunable, provide a convenient and cheap source of coherent ultra-short laser pulses for timedomain spectroscopy of semiconductor and molecular materials. With developments in laser diode processing techniques the spectral range could be extended to cover the visible to near i.r. region (up to 4 pm). Intracavity spectroscopy, with increased sensitivity, is also possible, particularly for the study of semiconductor carrier dynamics. Other applications include the study of coherent pulse propagation, two-photon spectroscopy and high-resolution spectroscopy when the diode lasers are operated in a single mode.