The status and emerging trends in the science and technology of power atomization and consolidation are reviewed in the context of high temperature aerospace materials. Commercial and near-commercial methods of powder production by atomization are assessed with respect to product characteristics and properties. Subsequent hot consolidation of the particulates to full density is then considered. Included in this review are state-of-the-art particle metallurgy superalloys and intermetallics for gas turbine disks, and aluminum and titanium alloys for aerospace structural components. Rapid solidification is inherent to particle production by atomization with concomitant attributes of alloying flexibility, increased solid solubility limits, fine-scale microstructures, and chemical homogeneity. This particle metallurgy-rapid solidification interface is discussed with respect to the potential for alloy development in high temperature applications. A redirection in powder processing is discerned with the focus on real-time monitoring and control.