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Light weight structures give significant advantages to products in the Industrial sector. Component weight-saving plays a major role in improving the efficiency and performance of assembled systems. The introduction of lighter materials into products using dissimilar material joining techniques can create more weight savings and leads to lighter structures. Structural optimization is another method to optimize the material layout without affecting overall performance of the product. This paper discusses the methods to create lighter structures by the introduction of lighter materials in structures and structural optimization methods. Lighter materials are introduced in the structure using dissimilar material joining techniques. Joining processes such as thermal shrink-fit and mechanical press-fit are useful for metal to metal components. Similarly, adhesively bonded joints are useful for both metal and non-metal (plastics and composites) components.