The design and necessity of corrosion-resisting nanocarbon nanocomposites have been investigated for cutting-edge aerospace applications. In this regard, nanocarbon nanofillers, especially carbon nanotubes, graphene, nanodiamond, etc. have been used to fill in various polymeric matrices (thermosets, thermoplastics, and conducting polymers) to develop anti-rusting space-related nanocomposites. This review fundamentally emphases the design, anti-corrosion properties, and application of polymer/nanocarbon nanocomposites for the space sector. An electron-conducting network is created in the polymers with nanocarbon dispersion to assist in charge transportation, and thus in the polymers’ corrosion resistance features. The corrosion resistance mechanism depends upon the formation of tortuous diffusion pathways due to nanofiller arrangement in the matrices. Moreover, matrix–nanofiller interactions and interface formation play an important role in enhancing the corrosion protection properties. The anticorrosion nanocomposites were tested for their adhesion, contact angle, and impedance properties, and NaCl tests and scratch tests were carried out. Among the polymers, epoxy was found to be superior corrosion-resisting polymer, relative to the thermoplastic polymers in these nanocomposites. Among the carbon nanotubes, graphene, and nanodiamond, the carbon nanotube with a loading of up to 7 wt.% in the epoxy matrix was desirable for corrosion resistance. On the other hand, graphene contents of up to 1 wt.% and nanodiamond contents of 0.2–0.4 wt.% were desirable to enhance the corrosion resistance of the epoxy matrix. The impedance, anticorrosion, and adhesion properties of epoxy nanocomposites were found to be better than those of the thermoplastic materials. Despite the success of nanocarbon nanocomposites in aerospace applications, thorough research efforts are still needed to design high-performance anti-rusting materials to completely replace the use of metal components in the aerospace industry.