Precision Physics with Muons: A Decade of Theoretical and Experimental Advances

The muon has been instrumental in establishing the Standard Model of particle physics and continues to play a key role in exploring the nature of New Physics. A global program is underway to enhance the discovery potential of a wide range of muon probes, with significant increases in sensitivity anticipated over the next decade. In this review, we examine recent experimental advancements in the study of muon decays, the determination of the muon magnetic and electric dipole moments, and the search for charged lepton flavor-violating transitions. We explore the implications for scenarios of physics beyond the Standard Model and focus on models involving light new particles, such as axions and hidden sectors. Opportunities from novel experimental concepts and proposals for new muon facilities are also discussed.