Titanium-based metal composites (TMCs) are showing great potential to replace existing traditional materials in aerospace, automotive, and other high temperature engineering applications. This is due to their excellent mechanical, thermal, and physical properties and improved strength to weight ratio. Weight savings in the aerospace industry results in higher efficiency. Carbon nanotubes (CNTs), because of their low density and high Young's modulus, are considered to be an excellent reinforcement for metal matrix composites (MMCs). In the last 20 years extensive research has been carried out to investigate the combination of carbon nanotubes with aluminum, nickel, copper, magnesium, and other metal matrices. The production techniques such as mechanical alloying through powder metallurgy routes and their effects on the mechanical properties of CNT reinforced TMCs are reviewed in this article. The role of the volume fraction of carbon nanotubes and their dispersion into the metal matrix are highlighted. Governing equations to predict the mechanical and tribological properties of CNT reinforced titanium matrix composites are deduced. With the help of this initial prediction of properties, the optimal processing parameters can be optimized. Successful development of CNT reinforced TMCs would result in better wear and mechanical behavior and enhance their ability to withstand high temperature and structural loading environments