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Low Earth Orbit is exceptionally constrained by the increasing number of satellites, increasing collision risks that might lead to significant losses in technological advancement. Hence, it is imperative to develop techniques such as Active Debris Removal (ADR) to preserve the usability of the space environment surrounding Earth. A promising ADR technique consistent with contactless operation constraints, which is undergoing rapid development, is known as the Ion Beam Shepherd (IBS). This revolves around using a highly collimated ion beam to continuously exert a force at a close range on the debris to achieve a highly controlled deorbiting. However, to date, no demonstration mission has proven this concept in space. This paper presents a survey of the main research works on the subject of IBS ADR missions along with multiple comparative analyses between alternative architectures for an in-orbit demonstration mission that could potentially increase the Technology Readiness Level (TRL) of IBS capabilities for small satellites in LEO. Particular attention is given to the mission's critical elements, such as state-of-the-art electric propulsion, techniques for collision avoidance, methods for reconstructing the dynamics of non-cooperative targets, and hazardous effects connected to IBS. The most critical risks are investigated in this paper and discussed in detail. Impulse transfer misalignment resulting in tumbling of the target, contamination risk, problems with acquiring the target based on the visual sensor inaccuracy, attitude control error in the approaching phase, and electric propulsion reliability are studied here from different angles. [ABSTRACT FROM AUTHOR]