This paper delves diversely into structure, material, safety precautions & economic feasibility of flywheel energy storage system production. This focusses on the fabrication process & associated challenges and it also includes the optimum standards for components to be used in this system. Flywheel energy storage system plays vital role in grid by providing millisecond response to stabilize and enhance the quality of electric grid. These existing flywheels are being compared by their capacity to sink with the grid to enhance the frequency & for many applications purposes. This paper undergoes the safety precautions by selection of casings, controlling the velocity, & controlling the wobbling effect which can lead to efficiency drop or damage the system. And structure is being well defined by verifying material to be used. This system enhances efficiency by controlling air drag & using the specified bearing for usage to control frictional losses. These factors are selected based on the economic feasibility to manufacture a flywheel. In summary, this paper delves into the fabrication techniques of flywheel energy storage systems, emphasizing their practical applications in real-world scenarios and grid systems applications. As a result, the flywheel energy storage systems are possessed to become a crucial component in large-scale energy storage, by its higher efficiency, long cycle life, wide operating temperature range, impressive power, high energy density, and rapid response capabilities which can react within a second to sink with the system.