This paper presents a systematic review of articles on computer-vision-based flying obstacle detection with a focus on midair collision avoidance. Publications from the beginning until 2022 were searched in Scopus, IEEE, ACM, MDPI, and Web of Science databases. From the initial 647 publications obtained, 85 were finally selected and examined. The results show an increasing interest in this topic, especially in relation to object detection and tracking. Our study hypothesizes that the widespread access to commercial drones, the improvements in single-board computers, and their compatibility with computer vision libraries have contributed to the increase in the number of publications. The review also shows that the proposed algorithms are mainly tested using simulation software and flight simulators, and only 26 papers report testing with physical flying vehicles. This systematic review highlights other gaps to be addressed in future work. Several identified challenges are related to increasing the success rate of threat detection and testing solutions in complex scenarios.