Magnetostatic wave (MSW) technology has been under investigation for more than a decade. Using ferrimagnetic films such as liquid-phase epitaxial (LPE) yttrium iron garnet (YIG) films, MSW devices and subsystems offer instantaneous bandwidths of up to 1 GHz at operating frequencies in the microwave bands (0.5-26.5 GHz). Because MSWs travel with velocities two-to-four orders of magnitude slower than electromagnetic waves, compact devices can be built using hybrid and monolithic microwave integrated circuit (MMIC) techniques. These devices include delay lines, dispersive delay lines, filters, resonators, and directional couplers. Subsystems using these devices, such as electronically tunable delay lines channelized filter banks, delay-line discriminators, oscillators, and frequency multipliers can be used for applications in signal identification, control and processing directly at microwave frequencies. An overview of the MSW technology is presented and an assessment of the various devices and subsystems that can be built using thin and thick LPE-YIG films is provided.>