From the 1980’s to the present day, continual advances in computer aided design, capsule fabrication, and process simulation have improved the HIP PM industry’s ability to produce net- and near-net shape powder metallurgy components for the aerospace industry.  A modern manufacturer of PM components can alter capsule complexity and the degree of engineering work employed in making a part, in order to achieve a balance between cost efficiency and tight dimensional control.  Finite element analysis software and computer hardware have improved to a state where precise, three dimensional, analysis is possible while still maintaining a tight delivery schedule.  Finally HIP modeling theory itself is being continually improved, thus offering the potential for an increasingly high level of predictive precision.  This paper will provide a review of the advances in the production PM shaped products with emphasis on design and modeling. In addition this paper will qualitatively review the economics of the various production routes available when choosing to produce a part using hot isostatic pressing.