Nitinol (NiTi) is categorized as a smart material which is highly recognized material for medical and other engineering applications. The behaviour of NiTi can be modified by altering the composition, modifying the porosity and applying external thermal and mechanical treatment. Due to high composition sensitivity, there are several impediments in fabrication of NiTi with conventional techniques which impel the use of additive manufacturing methods. But due to very high cost of equipments, these processes have not been commercialized till now. This paper presents a review on applications, manufacturing NiTi alloy and its various production routes from conventional to rapid prototyping, porous NiTi, effect of additives on properties of the alloy and its challenges.