This paper introduces a comparative analysis of Piezoelectric (PZ) and Magnetostrictive (MS) actuators as components in smart structures. There is an increasing interest in functional structures which are able to adapt to external or internal perturbations, i.e. changes in loading conditions or ageing. Actuator technologies must perform concomitantly as sensors and actuators to be applicable in smart structures. In this paper we will comparatively analyze the possibility of using PZ and MS actuators in smart structures and in so doing their capability to act concomitantly as sensors and of modifying their material characteristics. We will also focus on the analysis of how them can be integrated in structures and on the analysis of the most appropriate structures for each actuator. The operational performance of PZ (Stacks) and MS actuators will be compared and eventually some conclusions will be drawn.