Results from an experimental investigation on the mechanical behavior of unidirectional fiber reinforced polymer composites (E-glass/vinylester) with 30%, 50% fiber volume fraction under dynamic uniaxial compression are presented. Specimens are loaded in the fiber direction using a servo-hydraulic material testing system for low strain rates and a Kolsky (split Hopkinson) pressure bar for high strain rates, up to 3000/s. The results indicate that the compressive strength of the composite increases with increasing strain rate. Post-test scanning electron microscopy is used to identify the failure modes. In uniaxial compression the specimens are split axially (followed by fiber kink band formation). Based on the experimental results and observations, an energy-based analytic model for studying axial splitting phenomenon in unidirectional fiber reinforced composites is extended to predict the compressive strength of these composites under dynamic uniaxial loading condition.