Be-Al alloy is a type of in situ metal matrix composite composed of a primary Be phase for strength and stiffness and a continuous Al matrix for ductility and toughness. Be-Al alloy (AlBe-Cast®910) has the characteristics of low density (2.17 g/cm3), high elastic modulus (193 GPa) and specific stiffness (88.94 GPa/(g/cm3)) as a preferred material for lightweight aerospace products. Investment casting technology can be employed to prepare the components with thin-walled complex structures for aerospace; however, the wide solidification range for Be-Al leads to difficulty in feeding a casting and results in extensive shrinkage and porosity in cast parts. In this paper, the characteristics of Be-Al alloy are introduced first. Secondly, the mechanisms of influence of adding elements on the casting process, mechanical properties (strength increases more than 20% by adding elements) and microstructure evolution are explained in detail. In addition, the heat treatment technology (strength increases at least 10% after heat treatment) and the repair of defects by electron beam welding are discussed. Finally, Be-Al alloy is a new type of composite material, and China is a major research and application country; this paper introduces its research status and analyzes existing problems and shortcomings and points out the direction of Be-Al alloy development in China in the next few years.