Newly developed iron based hard alloy powders with high chromium and vanadium contents are used for coating production by means of HVOF and LPPS. Crack free and dense coatings with fairly homogeneous microstructure are possible for both spraying methods. XRD analyses of sprayed coatings prove phase compositions similar to those of the powder feedstock when using HVOF systems. In contrast LPPS coatings contain a large share of amorphous phase. Microhardness of LPPS and HVOF coatings is about 1,200 HV0.3 and 800 - 950 HV0.3 respectively. The higher microhardness of LPPS coatings is attributed to the presence of the amorphous phase. However, LPPS coatings are brittle and tend to crack under mechanical load. Wear resistance of coatings is determined by means of corundum grinding disk and ASTM G65 wear test. Corrosion behavior is characterized by means of salt fog test and electrochemical measurements. Cermet and stainless steel 316L coatings are used for comparative purposes in the investigations.