Ever increasing demand for composite materials in the aerospace industry has lead composite manufacturers to develop numerous innovations in the field of manufacturing. Composites play an important role in engine components and high-speed jet crafts where weight saving materials that can sustain high temperatures, with little reduction in performance are desired. A cost effective in-house novel manufacturing technique aimed at producing high glass transition temperature (Tg) composite panels on par with autoclave manufacturing technology has been designed and built. The designed compression molding system is integrated with an oven, to cater the need for high temperature and high pressure manufacturing system which can be a potential alternative for autoclaves in terms of fabricating panels for structural testing. Quality of the panel was demonstrated by conducting ultimate tensile test, fatigue test and microscopic examination results. High temperature mechanical testing was also carried out to study the behavior of high TgIM7/RP46 composites fabricated at the laboratory.