Offshore structures and airframes are more likely to catch lightning. Carbon/glass Fibre Reinforced Polymer (FRP) composites are the top priority material for such structures, for their ability to provide superior strength and stiffness at low weight cost. However, CFRP exhibits high resistivity and anisotropy, producing extensive thermal damage morphology after a lightning strike event. The previous review studies are focussed on the statistics of lightning events, conditions favouring the lightning strikes, and the effect of lightning waveform parameters onto damage. However, a detailed discussion on the experimental findings for lightning arc column interaction and damage imposed on CFRP is not available. Herein, the literature on experimental investigations compiled together to discuss the author's assessment comparing the damage morphology. Also, this review article presents a holistic view of arc column energetics, its interaction behaviour with structures composed of CFRP and the characterisation of the lightning damage profile onto such structures. Furthermore, this review paper compares the available numerical modelling techniques and discussed their merits and strength in predicting the different aspects of damage morphology.