COMRESLAB has nominated composite products which can be used in the sector of power industry for the purpose of preventing corrosion in the framework of an applied research contract with Niroo Research Institute (NRI). In this project, firstly, the application of composite in power industry has been comprehensively identified and then techno-economical study was conducted on replacing traditional materials with composites and the amount of money which will be saved by avoiding repair and maintenance arisen from corrosion in conventional materials. The required investments for establishment of production lines for various composite products have been also analyzed. The capabilities of Iranian companies for producing identified composite components are also analyzed. Identified composite components have been ranked using SMART model, afterwards. Finally, SWOT analysis was performed on the application of composites in Iranian power industry and strategic plans have been developed. Executive plans obtained through strategic planning have been ranked using QSPM.