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Modern friction materials have application in automotive, aerospace and industrial brake systems. It should also possess various resistance to water and heat, low wear rate and high thermal stability, but It is quite impossible to achieve all this in practical conditions. To meet these requirements, composite friction materials have been designed often based on experience or a trial and error method to make a new formulations. Selection of Binders, fibers, fillers, and modifiers plays key role in deciding new formulation of friction composite. Listing out these ingredients from literature give rise to idea for selection of suitable ingredient of new formulation which can be acceptable worldwide. Inferences and discussions are drawn from fact revealed of modern friction materials. In this Paper, A through literature survey of work carried out so far in field of manufacturing and characterization of friction materials is presented. It reports various methods of evaluation of friction performance, thermal stability of test samples. Types of mechanical, physical, thermal, morphological properties of test samples are reported and optimum formulation among other test samples is predicted. This gives idea about friction materials which fulfills the need of future.

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