The rapid strides made in the fields of electronics, instrumentation, defence and space owe a great deal to the development of a variety of permanent magnets with a wide range of magnetic properties. In this paper the significance and important application areas of permanent magnets are briefly reviewed. Historical development of permanent magnets has been outlined and limitations of some important grades have been discussed. The present status in the alnico and ferrite technology is reviewed. Recent developments in cobalt-rare-earth magnets, which are #x2018;magnets of tomorrow#x2019; are discussed. Future trends in the field of permanent magnets are also dealt with.
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