Compared with the information obtained by other conventional observation methods, the precipitation information obtained by the spaceborne technology has higher temporal and spatial resolution and wider spatial coverage. Researches on the spaceborne product are important for the control of microcosmic precipitation information, the improvement of numerical forecasts and the development of hydrological agriculture. This paper focuses on the development of the newgeneration meteorological satellite precipitation products from the TRMM (Tropical Rainfall Measuring Mission) satellite equipped with high resolution precipition radar (PR) and the GPM (Global Precipitation Measurement) satellite equipped with dual frequency precipitation (DPR) and progresses on their production researches, as well as the TRMM and GPM product accuracy from both the domestic and foreign relevant papers, statistical significance, and case studies. Some problems existing in the current spaceborne precipitation products are analyzed.