The objective of this paper is to demonstrate the versatility of electron beam-physical vapor deposition (EB-PVD) technology in engineering new materials with controlled microstructure and microchemistry in the form of coatings. EB-PVD technology is being explored in forming net-shaped components for many applications including space, turbine, optical, biomedical and auto industry. This paper presents recent results of various materials including ceramic, metallic, and functionally graded coatings produced by EB-PVD. Simultaneous co-evaporation of multiple ingots of different compositions in the high energy EB-PVD chamber has brought considerable interest in the architecture of functional graded coatings, nano-laminated coatings and designing of new structural materials that could not be produced economically by conventional methods. In addition, high evaporation and condensate rate allowed fabricating precision net-shaped components with nanograined microstructure for various applications. This paper will also present the results of various metallic and ceramic coatings including carbides and nitrides of titanium, hafnium, tantalum, titanium-boron-carbonitride (TiBCN), and oxides of zirconia, and HfO2-based TBC coatings deposited by EB-PVD for various applications.