This review examines the mechanical performance of metal- and polymer-based composites fabricated using additive manufacturing (AM) techniques. Composite materials have significantly influenced various industries due to their exceptional reliability and effectiveness. As technology advances, new types of composite reinforcements, such as novel chemical-based and bio-based, and new fabrication techniques are utilized to develop high-performance composite materials. AM, a widely popular concept poised to shape the development of Industry 4.0, is also being utilized in the production of composite materials. Comparing AM-based manufacturing processes to traditional methods reveals significant variations in the performance of the resulting composites. The primary objective of this review is to offer a comprehensive understanding of metal- and polymer-based composites and their applications in diverse fields. Further on this review delves into the intricate details of metal- and polymer-based composites, shedding light on their mechanical performance and exploring the various industries and sectors where they find utility.