Carbon fiber reinforced plastics (CFRP) composites have become the primary materials in the aerospace industry. Future transportation means, such as urban air mobility (UAM), will be employing CFRP structures. However, lightning strike damage on composite structures is a serious concern. CFRP composites possess low through-thickness electrical conductivity (≈ 1 S/m), which can cause extreme resistive heat in the event of lightning strikes. Research on polymeric lightning strike protection has gained momentum in the past few years. Researchers have studied various conductive fillers to improve the CFRP performance against lightning strikes. Carbon nanotubes (CNTs) and graphene oxide (GO) have been studied as future lightning Strike Protection (LSP) materials the most. The use of CNT and GO-based composites has shown improved mechanical properties and improved electrical conductivity of the composites. Researchers investigated CNTs and GO as the fillers to the matrix system, sizing the carbon fibers and the surface coating on top of the CFRP surface. This chapter highlights the remarkable improvement in the lightning damage suppression of CNT and GO-based composites and their structural applications. Special attention is given to their potential use as LSP material in future aircraft.