Bulk cobalt- and nickel-based metallic materials exhibit superior resistance to cavitation erosion and sliding wear. Thus, thermally deposited High Velocity Oxygen Fuel (HVOF) coatings seem promising for increasing the wear resistance of the bulk metal substrate. However, the effect of chemical composition on the cavitation erosion and sliding wear resistance of M(Co,Ni)CrAlY and NiCrMo coatings has not yet been exhaustively studied. In this study, High Velocity Oxygen Fuel (HVOF) coatings such as CoNiCrAlY, NiCoCrAlY, and NiCrMoFeCo were deposited on AISI 310 (X15CrNi25-20) steel coupons. The microstructure, hardness, phase composition (X-ray diffraction, XRD) and surface morphology of the as-sprayed coatings were examined. Cavitation erosion tests were conducted using the vibratory method in accordance with the ASTM G32 standard. Sliding wear was examined with the use of a ball-on-disc tribometer, and friction coefficients were measured. The mechanism of wear was identified with the scanning electron microscope equipped with an energy dispersive spectroscopy (SEM-EDS) method. In comparison to the NiCrMoFeCo coating, the CoNiCrAlY and NiCoCrAlY coatings have a lower wear resistance.