This paper investigates the oxidation that occurs during the flight movement of a powder particle and during the spatter solidification in the thermal spray process. The effects of oxidation on droplet flattening, on the mechanical and thermal interactions between spatter and substrate, on spatter morphology, on porosity, and on adhesion are studied. The influence of wetting and oxygen dissolution is analyzed. The experimental results show that during High Velocity Oxy-Fuel spraying of the chromium carbide-nickel-chromium powder, the relative mass of chromium oxide in the coating is about 4.95%. The theoretical results agree well with the experimental observations. Paper includes a German-language abstract.