B2 precipitate morphology has been reported to influence strengthening effect in B2s Fe-Mn-Al-Ni-C steels ). In addition, distribution of ordered B2 phase in a disordered FCC matrix hugely influences the strengthening effect in these steels . For instance, one of the most common ways of enhancing strength-ductility combination in B2s Fe-Mn-Al-Ni-C steels is through an appropriate utilisation of potent nucleation sites such as FCC grain boundaries (GBs), grain edges and shear bands (formed due to plastic deformation) . At present, correlative microscopy has emerged as a powerful methodology in terms of providing both structural and chemical information from the same region in a given microstructure ). However, the aforementioned methodology has not been utilised (till date) to understand the microstructure evolution of B2 precipitates in FCC matrix (in B2s Fe-Mn-Al-Ni-C steels). To this end, the present review article is aimed at highlighting some of the developments (till date) and associated challenges (both fundamental and industrial) in the avenue of B2s Fe-Mn-Al-Ni-C lightweight steels with a special emphasis on the influence of B2 precipitate morphology, and distribution on the deformation characteristics of these steels. In addition, the necessity of utilising correlative microscopy methodology towards understanding the microstructure evolution of ordered B2 precipitates in a disordered FCC matrix (in B2s Fe-Mn-Al-Ni-C steels) has also been highlighted.