Electromagnetic braking system is based on the principle of electromagnetism to achieve friction less braking in which applying brakes using electronic and magnetic power. This increases the lifecycle and trustworthiness of brakes since no friction leads to less wearing out of brakes. This is imminent of braking systems. It is smaller in size compared to the traditional braking systems. when magnetic flux passed in a perpendicular direction to the rotating wheel, an eddy current flow in a reverse to the rotational direction of the wheel. This produces an opposing force to the rotation of wheel and in turn reduces the speed of wheel rotation. It develops a torque and finally the vehicle comes to rest. This braking system can be combined in heavy vehicles as an auxiliary brake. It can be used in commercial vehicles by monitoring the current supplied to generate the magnetic flux. As per the requirement of vehicle pilot a required torque can be generate to slow down the vehicle. This new braking system minimize the road accident now a days. This paper is focused on basic summarized version of electromagnetic braking system including types, component, construction, working principal, application and it s future scope of application and modification.