The aircrafts with high aspect ratio wings made by a composite material have been developed, which enable high energy efficiency and long-term flight by reducing air resistance and structural weight. However, they have difficulties in securing the aeroelastic stability such as the flutter because of their long and flexible wings. The flutter is unstable self-excited-vibration caused by interaction between the structural dynamics and the aerodynamics. It should be verified analytically prior to first flight test that the flutter does not happen in the range of flight mission. Normally, the finite element model is used for the flutter analysis. So it is important to construct the finite element model representing dynamic characteristics similar to those of a real aircraft. Accordingly, in this research, to acquire dynamic characteristics experimentally the modal test of the aircraft with high aspect ratio composite wings was conducted. And then the modal parameters from the finite element analysis(FEA) were compared with those from the modal test. To make analysis results closer to test results, the finite element model was updated by means of the sensitivity analysis on variables and the optimization. Finally, it was proved that the updated finite element model is reliable as compared with the results of the modal test.