Aeroelastic optimization has become an indispensable component in the evaluation of divergence and flutter characteristics for plated/shell structures. The present paper intends to review the fundamental trends and dominant approaches in the optimal design of engineering constructions. A special attention is focused on the formulation of objective functions/functional and the definition of physical (material) variables, particularly in view of composite materials understood in the broader sense as not only multilayered laminates but also as sandwich structures, nanocomposites, functionally graded materials, and materials with piezoelectric actuators/sensors. Moreover, various original aspects of optimization problems of composite structures are demonstrated, discussed, and reviewed in depth.