Carbon nanotubes (CNTs) have recently emerged as a promising material of electron field emitters. They exhibit extraordinary field emission properties because of their high electrical conductivity, high aspect ratio "needle like" shape for optimum geometrical field enhancement, and remarkable thermal stability. In this Review, we emphasize the estimation and influencing factors of CNTs' emission properties, and discuss in detail the emission properties of macroscopic CNT cathodes, especially fabricated by transplant methods, and describe recent progress on understanding of CNT field emitters and analyze issues related to applications of CNT based cold cathodes in field emission display (FED). We foresee that CNT-FED will take an important place in display technologies in the near future.