Development and processing of high-temperature materials is the key to technological progress in engineering areas where materials have to meet extreme requirements. Examples for such areas are the aerospace and automotive industries. New structural materials have to be stronger, stiffer and lighter to withstand the extremely demanding conditions in the next generation of aero- and automotive engines. Intermetallic -TiAl based alloys exhibit numerous attractive properties which meet these demands. These properties include high melting point, low density, high specific elastic modulus, good oxidation and burn resistance, and high specific strength up to application temperatures of 700 to 800°C. Thus, current -TiAl based alloys outperform advanced Ti-based alloys and have the potential to replace heavy Ni-based superalloys.