The Oil & Gas industry is showing a growing demand for systems and equipment that allow for quick repair interventions on damaged subsea pipelines. Fiber-Reinforced Polymer (FRP) composite wrapping systems have been introduced and accepted as alternative temporary repair systems. Composite wrapping is an efficient repair method and well established for onshore pipelines. It has been successfully extended offshore and, recently, for subsea in shallow water applications with divers. This paper provides a critical overview of the subject technique, including advantages over traditional repair methods, pipe defect applicability, reference standards and specific state-of-the-art technology. Composite wrapping solutions for diver-less and deep-water applications are not yet available on the market. Critical challenges to overcome in order to afford the use of this technology for these applications are outlined. A development project is currently ongoing to achieve a deep-water composite wrapping repair solution with the aim of proposing innovative and cost-effective methods in support of subsea asset Inspection, Maintenance and Repair (IMR).