Atmospheric corrosion of metals is the most common type of corrosion which has a significant impact on the environment and operational safety in various situations of everyday life. Some of the common examples can be observed in land, water and air transportation systems, electronic circuit boards, urban and offshore infrastructures. The dew drops formed on metal surface due to condensation of atmospheric moisture facilitates corrosion as an electrolyte. The corrosion mechanisms under these droplets are different from classically known bulk electrolyte corrosion. Due to thin and non-uniform geometric thickness of the droplet electrolyte, the atmospheric oxygen requires a shorter diffusion path to reach the metal surface. The corrosion under a droplet is driven by the depletion of oxygen in the center of the droplet compared to the edge, known as differential aeration. In case of a larger droplet, differential aeration leads to preferential cathodic activity at the edge and is controlled by the droplet geometry. Whereas, for a smaller droplet, the oxygen concentration remains uniform and hence cathodic activity is not controlled by droplet geometry. The geometry of condensed droplets varies dynamically with changing environmental parameters, influencing corrosion mechanisms as the droplets evolve in size. In this review, various modelling approaches used to simulate the corrosion under droplet electrolytes are presented. In the efforts of developing a comprehensive model to estimate corrosion rates, it has been noted from this review that the influence of geometric evolution of the droplet due to condensation/evaporation processes on corrosion mechanisms are yet to be modelled. Dynamically varying external factors like environmental temperature, relative humidity, presence of hygroscopic salts and pollutants influence the evolution of droplet electrolyte, making it a complex phenomenon to investigate. Therefore, an overview of available dropwise condensation and evaporation models which describes the formation and the evolution of droplet geometry are also presented from an atmospheric corrosion viewpoint.