The incorporation of boron carbide (B4C) powder as a reinforcing filler material enhances the impact resistance and neutron absorbency attributes of Kevlar epoxy composites. The objective is to study the high velocity impact damage of Kevlar epoxy composites with B4C powder reinforcements. In the present work, the composite material composed of Kevlar fibers reinforced with B4C powder and an epoxy matrix is manufactured initially. To assess the high velocity impact performance of this composite material at room and elevated temperature, a series of experiments were conducted utilizing a single-stage gas gun and a steel projectile. The evaluation of impact damage was conducted on both neat Kevlar epoxy and Kevlar/B4C epoxy composites for various impact velocities in relation to various weight percentages of B4C. The threshold velocity of neat Kevlar epoxy composite was determined to be 37.97 m/s, and all studies were conducted using this velocity. The obtained results demonstrated that the incorporation of 15 wt% B4C within the composite material significantly enhanced the material’s capacity to absorb impact energy compared with neat Kevlar composite material. At elevated temperature, B4C fillers enhance the thermal stability of the composite. The addition of aluminum honeycomb core offers high impact energy absorption to the structure. After understanding the significance of B4C fillers in the high velocity impact characteristics of Kevlar epoxy composite plates and honeycomb sandwich structures, future research can be focused on the space debris impact and radiation shielding of Kevlar/B4C reinforced epoxy composites.