The present paper discusses some important aspects of precipitation and ordering in alloy systems that show a martensitic transformation and can or are used as shape memory or superelastic metallic systems. The precipitates are investigated by a variety of conventional and advanced electron microscopy techniques, including atomic resolution, 3D slice-and-view, energy loss spectroscopy etc. Depending on the system, such secondary phases can decrease the probability of a displacive transformation by changing the phase stability in the system, such as in the case of Ni-Al or Ni-Ti-Pd, or can mechanically hinder the passage of the transformation interface, as in Ni-Ti-Nb. On the other hand, properly controlling the nucleation and growth of some precipitates can strongly improve the properties of some types of materials, as is the case for the well-known Ni 4 Ti 3 precipitates.