Porous metals are called as a new material of 21th century because they show not only extremely low density, but also novel physical, thermal, mechanical, electrical, and acoustic properties. Since the late in the 1990‘s, considerable progress has been made in the production technologies of many kinds of porous metals such as aluminum, titanium, nickel, copper, stainless steel, etc. The commercial applications of porous metals have been increased in the field of light weight structures, sound absorption, mechanical damping, bio-materials, thermal management for heat exchanger and heat sink. Especially, the porous metals are promising in automotive applications for light-weighting body sheets and various structural components due to the good relation between weight and stiffness. This paper reviews the recent progress of production techniques using molten metal bubbling, metal foaming, gas expansion, hollow sphere structure, unidirectional solidification, etc, which have been commercialized or under developing, and finally introduces several case studies on the potential applications of porous metals in the area of heat sink, automotive pannel, cathod for Ni-MH battery, golf putter and medical implant.