Transition metal dichalcogenides (TMD) and layered materials in general, have drawn intense attention lately due to the possibility of realizing highly scalable low power electronic and other novel devices. Although several proof of-concept devices have been demonstrated recently with exfoliated micron size flakes, controllable growth of large-area electronic grade material, essential for mass production, is in its infancy. Molecular beam epitaxy (MBE) holds the promise to allow layer controlled uniform growth and precision in doping TMD materials. To this end, we have explored the MBE growth of WSe2, SnSe2, MoSe2, MoTe2, MoSe2-xTex, NbSe2, h-BN, and their heterostructures and superlattices. We have investigated the growth regime for obtaining layer-by-layer growth of phase pure material. Using a plethora of characterization techniques, we elucidated the limitations of various techniques to probe different layered materials. By understanding the effect of growth conditions on grain shape and size, supported by theory, we achieved 10x improvement in grain size and transition from isotropic or dendritic growth to triangular grain growth. Using scanning tunneling microscopy and spectroscopy measurements, the air and thermal stability of the MBE grown materials was studied. Electrical conductivity and workfunction of MBE grown SnSe2 and WSe2 was probed for tunnel FET application. Further for device applications, rotational alignment, interfacial reaction and strain in heterostructures of 2D materials are of key importance and these were also studied. Finally, along side the above stated understanding, we will also present our recent ongoing work on metal organic molecular beam epitaxy (MOMBE) of WSe2 using a supersonic molecular beam of W(CO)6 and in-situ characterization using XRF and GI-XRD during growth.