Ionization
One of the effects of a meteoroid's journey through the atmosphere is a process known as ionization. Ionization is the result of the energy produced by the high heat stripping the meteoroid of its electrons. As this process takes place, an ionization trail glows in the form of a streak of light. This is commonly known as a shooting star.
Fireballs
Another type of visible light in the sky created by a meteor is known as a fireball. A fireball glows brighter than a shooting star because it is creating more heat as a result of friction between the atmosphere and the surface of the rock. Some fireballs create a sonic boom as they zoom through the sky.
Impact Craters
Shooting stars typically burn up before they reach the surface of a planet or moon. Meteors large enough to create a fireball occasionally do impact the surface, causing an impact crater. A meteor that has made it to the surface is called a meteorite.
Impact Explosion
Small meteors commonly impact the surface and become meteorites. Much rarer is the impact of an enormous meteor capable of creating a crater. These impacts of very large meteors effect the earth in more ways that just causing craters. The energy produced by the largest meteors to hit the earth produced an explosion equivalent to more than 20 megatons of TNT, which is equivalent to all of the explosives that have ever been used in all the wars in history.
Climate Change
A meteor of any size that hits Earth causes dust, dirt and debris to scatter into the air. When the meteor is large enough, the dust, dirt and debris that rises into the air can take months to settle, sometimes blocking out sunlight. This can have enormous consequences, ranging from climate change to extinction of certain species of plants and animals.
Tsunami
A potentially devastating effect of a large meteor impacting the ocean is a tsunami. These large waves ripple swiftly outward from the impact site in all directions. If the meteor was large enough, it could cause flooding around much of the world.