Al-Cu-Fe-B quasicrystalline and Mo coatings were obtained on the mild steel and brass substrates by thermal spraying routes for the purpose of replacement of Mo coatings with quasicrystalline ones. Quasicrystalline coatings were prepared by air plasma spraying and/or HVOF (High Velocity Oxygen Fuel) techniques followed by subsequent heat treatment, and Mo coatings, wire flame spraying. For comparative studies of important properties for industrial application, mechanical properties, bonding strength, surface energy, and tribological behavior were investigated based on microstructural characterization. Basic mechanical properties such as hardness, fracture toughness, and elastic modulus of quasicrystalline coating showed comparable values with those of Mo coatings. De-bonding tests of coatings deposited onto brass substrate indicated that the bonding strength of quasicrystalline coatings obtained by HVOF techniques exhibit higher value to Mo coatings. Non-sticking property analogized from surface energy calculation and friction coefficient of quasicrystalline coatings also showed better performance during the tests. It is suggested from this investigation that the quasicrystalline coating can be effectively used as a replacement of the Mo coating, which has shown a recent steep price rise and problems of accidental existence of minor environment harmful elements such as Cr6+, Pb, Cd, and Hg.