Silica aerogels are advanced materials with outstanding properties, including high specific surface area and porosity, low thermal conductivity, density, dielectric constant, and refractive index. However, the excellent properties of silica aerogels have shown limited utility in industrial applications, primarily as thermal insulation materials, where they hold only a small (1.1–2.6%) market share. The emergence of clean energy technologies stimulated renewed interest in silica and other aerogels. Here the recent advances in the production and applications of silica aerogels are summarized, and the current challenges and future development opportunities are discussed. The conventional and emerging syntheses and characterization methods of silica aerogels are introduced, followed by a discussion on thermophysical properties and potential applications. The fabrication processes of silica aerogels are analysed at different industry development stages. Recent advances in aerogels research are considered, highlighting the obstacles and possible solutions for the successful translation and industry uptake and focusing on the emerging applications in electric vehicles and building insulation.