Two classes of X-ray/$γ$-ray sources, the Soft Gamma Repeaters and the Anomalous X-ray Pulsars have been identified with isolated, slowly spinning magnetars, neutron stars whose emission draws energy from their extremely strong magnetic field ($\sim 10^{15}-10^{16}$ G). Magnetars are believed to form with millisecond spin period and to represent an important fraction of the whole population of young neutron stars. Newborn magnetars can convert very quickly their rotational energy into electromagnetic and/or gravitational waves, by virtue of their strong magnetic fields and fast spins. This chapter provides a brief summary of astrophysical problems and scenarios in which millisecond magnetars are believed to play a key role: these include Gamma Ray Bursts, Supernovae, Gravitational Wave events and Fast Radio Bursts.

31 pages, 3 figures, Preprint of a chapter of the book 'Millisecond Pulsars', of the Astrophysics and Space Science Library (ASSL) series edited by Sudip Bhattacharyya, Alessandro Papitto and Dipankar Bhattacharya