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High stressed aircraft landing gear and structural components are subjected to severe loading, corrosion and adverse environmental conditions. Materials such as high strength steels and high-strength titanium alloys are widely used for those critical components. The main criterions for choosing the materials are their strength and fatigue strength, toughness and ductility. 300M steel is widely used for high stress aircraft landing gears and structures; however, this steel is not corrosion-resistant and requires protective coatings. Cobalt-free, quenched and tempered high strength corrosion resistant steel alloy (“HSCR steel”) provides the same strength, ductility, and toughness as the 300M steel and while it possesses corrosion resistance in salt spray test. HSCR steel has showed no rust after the standard salt spray test in accordance with ASTM B117 using a 5% NaCl concentration, natural pH, at 95°F, for 200 hours test duration.