Isothermal and near isothermal forging are specialized metal processing techniques which are used for producing critical aeroengine components out of advanced materials such as titanium alloys. The process can be used to produce net / near net shape components leading to optimum utilization of materials. As titanium alloys are highly sensitive to temperature and strain rate, these processes help to deform them under slow and controlled strain rates. Further, these processes can be combined with other conventional and non conventional metal forming processes to refine the microstructure. For example, multiaxial isothermal forging coupled with pack rolling can be used to produce thin sheets out of titanium alloys with submicron grain size. The refined structure exhibits superplastic characteristics at low temperatures and high strain rates. This lower temperature superplastic characteristic can be exploited to establish technologies for producing various components. The paper throws light on the capabilities of isothermal forging process and its variants. Defence Science Journal, 2011, 61(1), pp.72-80 , DOI:http://dx.doi.org/10.14429/dsj.61.321