Guided waves have shown a great potential for structural health monitoring (SHM) applications. In contrast to traditional non-destructive testing (NDT) methodologies, a key element of SHM approaches is the high process of automation. The monitoring system should decide autonomously whether the host structure is intact or not. A basic requirement for the realization of such a system is that the sensors are permanently installed on the host structure. Thus, baseline measurements become available that can be used for diagnostic purposes, i.e., damage detection, localization, etc. This paper contributes to guided wave-based inspection in anisotropic materials for SHM purposes. Therefore, computational strategies are described for both, the solution of the complex equations for wave propagation analysis in composite materials based on exact elasticity theory and the popular global matrix method, as well as the underlying equations of two active damage localization algorithms for anisotropic structures. The result of the global matrix method is an angular and frequency dependent wave velocity characteristic that is used subsequently in the localization procedures. Numerical simulations and experimental investigations through time-delay measurements are carried out in order to validate the proposed theoretical model. An exemplary case study including the calculation of dispersion curves and damage localization is conducted on an exemplary unidirectional composite structure where the ultrasonic signals processed in the localization step are simulated with the spectral element method. The proposed study demonstrates the capabilities of the proposed algorithms for accurate damage localization in anisotropic structures.