Iron-based thermal spray deposits have been used for reclamation of machine components and wear resistance. Current thermal spray processes can be used to spray deposits a few millimeters thick at rates of 3 to 10 kg/hr. With a throughput over 100 kg/hr for metals, the Water Stabilized Plasma torch enables cost-effective processing of very thick (>1 cm) deposits at very high rates. However, limited information exists in the literature on the ability of this technology for deposition of oxygen sensitive metals. In this investigation, iron-based coatings were produced with the water stabilized plasma system. The deposits sprayed in air and with an inerting shroud were evaluated using x-ray diffraction, light microscopy, oxygen analysis and microhardness in an effort to understand the processing effects on microstructure and properties.