In view of the increasing needs for efficient usage of natural resources and environmental protection in our modern society, weight reduction in transportation such as cars, trains or aircrafts is of fundamental interest. In order to solve this major issue, improved concepts are necessary which also emphasize the usage of light weight materials in construction. Especially magnesium and its alloys as the lightest available constructional metals have a major potential in this regard. Since magnesium cast components have found their application, interest is now spreading towards wrought alloys for use as structural components. However, the use of wrought magnesium alloys in the transportation industry is still limited at present. In this paper we give an overview on the present state of the art as well as on specific requirements for the processing of wrought magnesium alloys. We will show the technical potential in terms of improved economic aspects for wrought magnesium and discuss research topics such as process-specific alloy design.