In response to the escalating demands of global trade and the pressing imperative for environmental preservation, the shipping industry is confronted with the dual challenges of augmenting energy efficiency and significantly curtailing carbon emissions. Ship drag reduction technology emerges as a promising solution to address these critical issues. Over the recent years, a spectrum of diverse drag reduction technologies has been developed, each precisely targeting distinct components of ship resistance and influenced by a multitude of factors. We provide a comprehensive synthesis and critical evaluation of the existing literature on ship drag reduction technologies. It categorizes these technologies into four primary domains: body-attached drag reduction, surface drag reduction, air lubrication drag reduction, and other specialized drag reduction techniques. By presenting detailed and extensive experimental data, coupled with real-world application cases, we underscore the practical implementation and proven efficacy of these technologies in reducing ship drag. We delve into the current limitations and challenges encountered by these technologies. We also offer strategic recommendations for future research endeavors and practical applications, aiming to overcome these limitations and enhance the overall performance of drag reduction technologies. The insights provided in this paper aim to serve as a guide for ongoing efforts in developing innovative and effective utilization of ship drag reduction technologies, ultimately contributing to the sustainability and efficiency of the shipping industry.