The formation of metallic glasses and dual-phase composite/hybrid materials is reviewed, as well as the glass transition process and the resulting structural phenomena. These materials exhibit high strength, extreme hardness, good wear resistance and large elastic deformation. Due to their excellent structural, functional, magnetic, chemical and biological properties metallic glasses are suitable for a great many applications, including in such areas as microelectromechanical devices, pressure sensors, orthopaedic screws and precision surgical instruments.