Advanced energetic materials - explosive fill and propellants - are a critical technology for national security. While several new promising concepts and formulations have emerged in recent years, the Department of Defense is concerned about the nation's ability to maintain and improve the knowledge base in this area. To assist in addressing these concerns, two offices within DOD asked the NRC to investigate and assess the scope and health of the U.S. R&D efforts in energetic materials. This report provides that assessment. It presents several findings about the current R&D effort and recommendations aimed at improving U.S. capabilities in developing new energetic materials technology. This study reviewed U.S. research and development in advanced energetics being conducted by DoD, the DoE national laboratories, industries, and academia, from a list provided by the sponsors. It also: reviewed papers and technology assessments of non-U.S. work in advanced energetics, assessed important parameters, such as validity, viability, and the likelihood that each of these materials can be produced in quantity; identified barriers to scale-up and production, and suggested technical approaches for addressing potential problems; and, suggested specific opportunities, strategies, and priorities for government sponsorship of technologies and manufacturing process development.