The Capillary Pumped Loop (CPL) is a two phase aerospace thermal transport system with many advantageous performance characteristics. While retaining the passive nature of the heat pipe, it has demonstrated an order of magnitude greater thermal transport capacity over high performance arterial heat pipes.In this survey paper, the CPL is described and its brief history discussed. A postulated analytical design model based on thermodynamic principles is presented. Both demonstrated and potential performance advantages are given. Finally, opportunities for future research are suggested.