**5. Application of modern permanent magnets**

Application of permanent magnets are many folds, starting from mechanical instruments such motors, generators, sensors, loudspeakers, bearings and clutches, automobiles to missiles, electrical to mechanical energy conversion, traveling wave tubes, transmission and distribution of electric power, microwave communications, and data storage [20]. Permanent magnets are a very crucial component of numerous industries and markets such as transportation, industrial, residential/commercial, consumer electronics, defence, IT/PC, wind energy and medical [21]. Permanent magnets are also important for military application, which add functionality to jet fighter engines and electronic countermeasure, missile and satellite communication systems. Many energy-efficient appliances, electric vehicles and direct-drive wind turbines also use permanent magnets [1, 22, 23].

Based on the application of permanent magnets, different materials are used for the manufacture of suitable permanent magnets, which can work at high temperature and harsh environment keeping the strength of the magnet intact.
