The need for green hydrogen through water electrolysis has propelled advancements in Anion Exchange Membranes (AEMs), positioning them as key components in AEM water electrolysis systems. This review paper comprehensively examines various commercial AEMs, focusing on their properties, stability, and performance in water electrolysis applications. By studying the characteristics of prominent AEMs such as Fumasep (R) FAA-3 Series, Tokuyama A201 and A901, Sustainion (R) X37-50, PiperION (R), AemionTM, and Orion TM1, this review elucidates the correlation between membrane properties and overall performance. Special attention is given to stability and durability, crucial factors for long-term operation. Additionally, the compatibility of these AEMs with precious metal-free catalysts is explored, highlighting their potential in AEM water electrolysis application. These findings emphasize the significance of commercial AEMs in advancing the efficiency and sustainability of water electrolysis technology. This review presents as a useful source for scientists, engineers, and industry stakeholders attempting to get a comprehension of the properties and performance of commercial AEMs in water electrolysis technology, while also identifying avenues for future research and development. However, future studies to compare the commercial AEMs with the same testing conditions, and focus on the compatibility with PGM-free catalysts are needed.