AbstractE‐glass fibers are widely preferred due to ease of processing and its low cost, which has substantial scope in the fields of electronics and electrical insulation applications. Because of its low strength and corrosion resistance, use of E‐glass fibers is limited in aerospace and automotive applications. There is a need for enhancing the properties of the composite to overcome such limitations. Therefore, an attempt is made to introduce multi‐walled carbon nanotubes (MWCNT) as fillers into E‐glass fibers to meet the industry needs. In the current study, woven glass fiber of 5 layers and multi‐walled nano carbon fillers of 2, 4 and 6 by wt%, LY556 epoxy resin, and HY951 hardener were used to prepare 4 different type of composites along with the neat epoxy glass fiber reinforced polymer composites (GFRP). The hand‐layup route was used in the composite preparation due to its low cost, technological feasibility, and simple process setup. The developed samples were characterized for mechanical properties via tensile, flexural and impact tests. Tribological characteristics were performed by air jet erosion test. Chauvenet's criterion is applied for identifying the outliers (if any) from the data of repeated test properties. Taguchi's (orthogonal array) is selected for obtaining optimal hybrid composite, which yield better mechanical properties. Empirical relations are developed for the material properties in terms of process variables. The sample (4 wt% MWCNT) exhibited enhancement of 17.27% in tensile strength, 6% of impact strength and 7.3% of flexural strength when compared with neat epoxy GFRP. This hybrid composite is considered for thermal aging and observed at 60°C, 8% increase in tensile, 7% increase of impact and 15% in flexural strength due to the precipitation on carbon nano tubes along the gain boundaries. The present study recommends 4% MWCNT fillers in developing hybrid glass epoxy polymer composites for use in aerospace, automotive and civil construction industries due to economic and technological feasibility.Highlights Utilize low‐cost E‐glass fibers in electronics and electrical insulation applications. Improve composite properties for aerospace and automotive industries. Develop hybrid glass epoxy composites with 2 to 6 wt% MWCNT fillers. Examine wear characteristics under air jet erosion and study the impact of thermal aging on mechanical properties. Apply Chauvenet's criterion for outlier identification in measured properties datasets.