This paper will present the ACV working principle and a review of the past research developments of high-speed ACV trains and their efforts in countries like, Brazil, France, Germany, Italy, United Kingdom, and United States, and the low-speed ACV trains, revealing why the former did not match the expectations and failed, while the latter have been prospered and purchase a well-established market niche in short distance paths. Finally, this study will promote a direct comparison between the two technologies, ACV and MagLev, with advantages and disadvantages of each one. The ACV development will bring important insights to the research of MagLev trains from a technical and economic perspective, learning with errors of the ACV, that did not enable any high-speed projects to flourish, and, on other hand, the comparative success of the urban ACV, as a complete commercial solution, like the MagLev trains. LEM Linear Electric Motor LIM Linear Induction Motor LIMRV Linear Induction Motor Research Vehicle LRV Light Rail Vehicle LSM Linear Synchronous Motor MagLev Magnetic Levitation OHSGT Office of High Speed Ground Transportation PRT Personal Rapid Transit PTACV Prototype Tracked Air Cushion Vehicle RTV Research Test Vehicle