This review focuses on “ultra-high molecular weight polyethylene (UHMWPE), a high-performance polymer used in medical and industrial applications. UHMWPE shows high-performance characteristics such as high mechanical strength, excellent wear resistance, and biocompatibility. In the case of industrial applications, UHMWPE is specifically used in automotive, marine, and mining. In contrast, in the case of aerospace applications, it is used for parts like gears, bearings, ropes, cables, and conveyor belts owing to its low coefficient of friction, superior wear resistance, and high impact strength. UHMWPE composites are nowadays more promising for use in aerospace, making light parts, and protecting against bullets, which are addressed in this article. In the medical field, UHMWPE is widely accepted as an orthopedic implant for its biocompatibility and resistance to wear. It is primarily used in hip and knee arthroplasty, where it serves as an acetabular liner and tibial insert. UHMWPE has also been studied for its use in heart devices, drug delivery systems, and dental tools. Researchers are working to make UHMWPE better, and methods for improvements like cross-linking, adding tiny particles, and treating the surface. “These efforts aim to make implants work better and last longer by solving problems like wear-related bone loss or osteolysis. This paper also discusses the increasingly recognized potential of UHMWPE, leading to its growing industrial and medical applications.