Titanium aluminides based on TiAl and Ti3Al are emerging as a revolutionary high temperature material. In order to confer these materials the thermomechanical properties required for industrial applications, two-phase alloys are developed by microalloying. That leads to formulate different alloy compositions adapted to the fabrication process and to the specific properties required for engineering applications. Knowledge of the fundamental understanding such as composition-structure-mechanical property relationships, microalloying effects and temperature dependence of plasticity micromechanisms are in progress and are used to optimise mechanical properties such as yield and creep strengths, tensile ductility and fracture resistance. Cast processing of XD (TM) near-gamma titanium aluminides has been successfully developed to manufacture near-net shaped components. For wrought alloys, investigation is aimed at producing large homogenised ingots and at improving the balance of properties by thermomechanical processing and heat treatments. Microstructure control is attempted by examining the role of solidification paths, phase relations and transformations and microalloying effects. The research efforts directed towards achieving balanced engineering properties are reviewed.