Low-velocity impact (LVI) can provoke catastrophic failure depending on the impact energy, lay-up configuration, and the operating temperature in fiber-reinforced composite structures via damage accumulation during the service. Additionally, extreme operating temperature is an important factor affecting the damage initiation and growth mechanism and understanding the compression-after-impact (CAI) response is a promising way to predict the damage-growth dynamics. For this purpose, this study investigates the LVI response and CAI strength of composite laminates under the −55 °C temperature considering the low-temperature (LT) service conditions of aerospace applications. The experiments are performed on cross-ply ([0/90°]4s) and angle-ply ([±45°]4s) lay-up composites for impact energy levels of 1.4 J and 10 J. After LVI tests, the occurred damages are examined by infrared thermography (IRT). Furthermore, the effect of the impact damage on the failure mechanism under compression loading is elaborated using acoustic emission (AE) inspection. The CAI test results reveal that the LT increases the compressive residual strength. However, this change is directly related to the load and lay-up configuration. The alternation in the damage growth mechanism of angle-ply laminates under LT operating temperature is more significant compared to the cross-ply laminates.