The inherent ability of magnetoelectric (ME) composites to show an electrical response under an input magnetic excitation and vice-versa, makes them sought after materials in plethora of applications including sensors, energy harvesters, and biomedical uses. The traditional method of fabrication of ME composite involves the bonding of the constituent magnetostrictive and piezoelectric layers which poses limitations such as aging and poor performance under high temperatures. Thus, a new epoxy-free fabrication method named as press-fit technique has been developed which has been subsequently used to develop a new ME configuration in the form of Distributed disc structured (DDS) configuration. Notably, DDS configurations remarkably increase the ME output by 650 % under resonant operating condition over the conventional disc/ring structured ME composites. Additionally, a novel thermally stable three-directional ME-based magnetic sensor has been developed using the press-fit technique. Analytical and numerical modeling has been performed to comprehend the influence of magnetic and mechanical attributes to the observed response of such composites.