A thorough analysis of the most current developments in the field of functionally graded composite materials (FGCM) is presented in this book chapter. The design, manufacture, and uses of FGCM are the primary subjects of this investigation. The chapter starts with a summary of FGCM's development and then explores the difficulties in trying to modify these materials' characteristics to suit particular technical requirements. The use of computational tools in the design process and the many manufacturing techniques that are frequently used such as additive manufacturing are given particular consideration. The chapter also examines the many methods such as non-destructive evaluation, analytical procedures, and experimental methods that are used to characterize FGCM. The chapter also illustrates the wide range of uses for FGCM in the energy, aerospace, biomedical, and structural engineering domains, demonstrating the adaptability of these materials. The chapter ends by discussing the problems that are being faced right now as well as the potential future trends.