The baculovirus insect cell production technology allows for rapid vaccine production and is particularly suitable for influenza vaccines where annual adjustment of the composition is required. Recombinant hemagglutinin produced using this technology is safe, immunogenic and effective in preventing cell-culture confirmed influenza in individuals; recombinant neuraminidase may play a role as an additive to improve the currently licensed influenza vaccines. Universal vaccine candidates, such as matrix protein M2 and nucleocapsid protein, are yet to enter the clinic whereas the first pandemic influenza virus-like particle (VLP) vaccine candidate is in clinical development. This review presents an overview of the use of this production system for the development of various influenza vaccine targets, including hemagglutinin, neuraminidase, M2, nucleoprotein and VLPs containing multiple influenza proteins. The development progress and the advantages and disadvantages of each vaccine candidate are discussed.