Abstract: Transient Voltage Suppressor (TVS) is a type of semiconductor device designed to rapidly clamp transient high voltages to a safe level, thereby protecting connected electronic systems. It is widely used in various circuit protection applications. First, this paper reviews existing research to summarize the current state of development and identifies key technical challenges of semiconductor TVS devices in airborne lightning surge and electromagnetic pulse (EMP) protection. Second, based on differences in energy levels, voltage ratings, and operational mechanisms, it classifies and systematically summarizes various TVS technologies, while also compiling recent advancements in device structures and fabrication processes. Finally, in response to the increasing protection demands of future aerospace systems, this paper explores potential advancements from the perspectives of chip materials, fabrication processes, and packaging technologies, proposing possible future development directions.