Precision forging is defined as a closed-die forging process in which the accuracy of the shape, dimensional tolerances, and surface finish exceed normal expectations to the extent that some of the postforge operations can be eliminated. This article provides an overview of the key factors that impact the precision forging process. It provides information on the achievable tolerances and presents examples of precision forging. A discussion on forging of bevel gears/spiral bevel gears is also presented.