In the aerospace field, the extensive use of integrated structural design and high-temperature lightweight materials is an effective means to increase the performance of aircraft. The use of titanium alloy investment casting technology can achieve low-cost mass production of complex integrated structural components. Numerical simulations can effectively improve the development efficiency of titanium alloy investment casting parts and reduce production costs. TiAl alloys, with better lightweight and high-temperature resistance than conventional titanium alloys do, are more conducive to increasing the Mach number of aircraft. This article reviews the current research progress in numerical simulation technology and TiAl intermetallic compounds in the investment casting technology of titanium alloys and looks forward to future development trends from an industrialization perspective.