Continual development and establishment of innovative materials in aerospace applications intends at reduction in weight, improved fuel efficiency, superior performance, and decreased cost. Progress of engineering materials for aerospace application affects both financial and ecological issues. Latest developments in advanced composites impact aerospace applications, due to superior strength-to-weight ratio, wear resistance, and thermal resistance compared to conventional materials. Composite materials, due to their unique features, lighter weight, high fatigue strength, and anticorrosion resistance, have begun to be used more prominently for almost a decade to produce wings and fuselages in major commercial aircraft. In the last 20 years, advanced hybrid composites have turned out to be established as exceptionally efficient, elevated performance structural materials, and their consumption is increasing rapidly. This review chapter on recent advancements in advanced composites for aerospace applications presents a brief review of the present status of hybrid composite materials technology, in terms of characteristics and classification of aerospace composites, selection criteria, manufacturing process, and application of advanced composites in the aircraft and aerospace industries. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2022.