Aluminum matrix composites (AMCs) using aluminum and its alloys as the matrix not only inherit the advantages of a wide selection range of aluminum alloys, easy processing and preparation, and good heat treatment performance but also utilize the advantages of different types of reinforcements, which make AMCs have excellent comprehensive mechanical, physical, and chemical properties. The emergence of high-performance lightweight and high-strength aluminum matrix composites has broad application prospects, which provides a new way to meet the application needs of the aerospace field and gradually replace traditional aluminum or other types of composite materials to become an important component of aerospace materials. Based on this, this article introduces the basic classification of aluminum matrix composites, summarizes the main preparation methods and characteristics of aluminum matrix composites in recent years, and analyses the physical, chemical, mechanical, friction and other properties of aluminum matrix composites. Finally, the application of aluminum matrix composites in the aerospace field is summarized, and the development and application of aluminum matrix composites are discussed. It is hoped that this article will be helpful for better promoting the development of aluminum matrix composites and their applications in the aerospace field.