Abstract Nanomaterials are known for their multifunctional capabilities. Recent advances in nanotechnology have recently caught the interest of researchers in the aerospace, vehicle, and automotive industries. The advantages of nanomaterials include high strength and low weight with improved sensing and actuating capabilities. Health monitoring clothing is another recent application of nanomaterials due to delamination toughness, fatigue resistance, impact resistance, and also the ability to self-repair. This chapter discusses the electrical, thermal, optical, and self-repair performance of polymer nanocomposites. In the past few years, functional nanomaterials have been extensively used as filler materials to improve the performance of structural and nonstructural polymer composites, which have been used in aircraft and automobiles construction. The most frequently used nanomaterials are nanoclays, carbon nanotubes, nanofibers, and graphene. This chapter will also discuss nanotubes containing polymer nanocomposites tailored for use in the aerospace and automotive industries. Current and future status of research trends and innovations in nanomaterials used in the automotive, aerospace, and sports industries including protective coatings and surface pretreatments will also be discussed.