The aim of this research is to investigate the dynamic characteristics of emerging lightweight fibre metal laminates (FML) used in aerospace and automobile engineering applications. Magnesium-based alloys are recently being used as alternative materials to aluminium alloys in fibre metal laminate (FML) layers to reduce the weight of the FMLs. In this work, six FML samples were modelled, and the dynamic analysis is performed by altering the number and location of layers; three of them are magnesium/carbon fibre prepreg FMLs; and the other three are magnesium/glass polyester FMLs. Dynamic characteristics of the FMLs were analysed by using finite element simulations. The effect of the number and location of magnesium alloy (Mg) layers on the modal frequencies is studied. The dynamic responses of the material are also investigated under varying carbon fibre prepreg (C) and glass polyester (G) layer positions in the FML. It is noticed from these studies that natural frequency of FMLs strongly depends on the type of fibre reinforcement and their location, besides on the number and location of magnesium layers.