Prealloyed (PA) powder metallurgy is a technique where complex near-net shape titanium aircraft components are fabricated with low buy-to-fly ratios. This article describes the physical principle, mechanism, and simulation and modeling of metal can and hot isostatic pressing (HIP) processes involved in the PA powder metallurgy technique. It discusses the technical problems addressed in shape control and their solutions for understanding the advantages of powder metallurgy HIP.