Flywheels can be used to store energy and used to produce very high electric power pulses for experiments, where drawing the power from the public electric network would produce unacceptable spikes. A small motor can accelerate the flywheel between the pulses.
The phenomenon of precession has to be considered when using flywheels in moving vehicles. However in one modern application, a momentum wheel is a type of flywheel useful in satellite pointing operations, in which the flywheels are used to point the satellite's instruments in the correct directions without the use of thrusters rockets.
Flywheels are used in punching machines and riveting machines. For internal combustion engine applications, the flywheel is a heavy wheel mounted on the crankshaft. The main function of a flywheel is to maintain a near constant angular velocity of the crankshaft.