This paper covers a brief overview of recently studied multilevel inverter applications across few of the industrial sectors like aircraft, FACTS, and Renewable Energy Sources. Multilevel inverters are the subject of in-depth research to propose unique topologies, innovation in modulation techniques, design of fault tolerant inverters, etc. Multilevel inverters provide several benefits, notably a substantial reduction in voltage stress, a reduction in electromagnetic interference, high-quality output power, better efficiency, etc. Because multilevel inverters are capable of creating complex waveforms with superior harmonic performance and reduced filter needs, they offer an extensive list of possible applications. Therefore, a review of recently issued publications was offered in this study, which focused on a few of the areas where there aren’t many research studies. The gaps in a few research studies have been identified and discussed. A few topics are being considered, including aircraft, FACTS, and Renewable Energy Sources that use multilevel inverters.