Electric arcing is an unavoidable consequence of the current collection process by sliding contact in railways and metros, and in general in many electrified transportation systems (ETSs). The most relevant consequences in an electrical perspective are: the occurrence of transients triggering resonant behaviour and transient responses, reduction of the energy efficiency of the system, conducted and radiated disturbance, in particular for the new radio systems widely employed for signalling and communication. The involved parameters are many (type of materials, current intensity, DC and AC supply, relative speed, temperature), as well as the studied characteristics (arc instability and lifetime, dynamic behaviour, electrical system response, radiation efficiency and coupling to external radio systems). This work reports the state of the art in arc modelling, arcing experimental characterisation, interaction with the supply system, radiated emissions and disturbance to radio systems, providing a complete description of phenomena and of reference data, critically discussing similarity and differences between sources. Proposed arc models are many with different assumptions and simplifications for various applications, so that a critical review and discussion are a necessity, considering the many different approaches and not-so-obvious applicability. The comparison with experimental results highlights unavoidable discrepancies, also because of intrinsic arc variability and for the many involved parameters and operating conditions. The impact of the arc as embedded in the railway system is then considered, speaking of conducted and radiated phenomena, including interference to radio communication systems and arc detection. The most prominent effect for conducted emissions is the excitation of system resonances, including the LC filters onboard rolling stock and substations in DC railways, with consequences for disturbance and energy efficiency, and this is discussed in detail. Conversely, for high frequency emissions, the attenuation along the line circuit is significant and the effective distance of propagation is limited; nevertheless radiated electromagnetic field emissions are a relevant source of disturbance for radio systems within the ETS premises and outside (e.g., at airports). The published approaches to quantify performance reduction are discussed with emphasis on experimental methods.