Avoiding quench cracks and controlling the formation process of NiAl precipitates are essential to regulate the microstructure and pseudoelastic properties of Fe–Mn–Al–Ni shape memory alloys (SMAs). In this study, we investigated the effect of 1.5 at.%V addition on the quench sensitivity of Fe–Mn–Al–Ni SMAs and the precipitation behavior of NiAl precipitates in air-cooled Fe–Mn–Al–Ni–V SMAs. It is found that the V addition significantly inhibits the precipitation process of non-transforming γ-phase. Polycrystalline sample of bamboo structure was prepared by abnormal grain growth and tested by incremental strain cycling tensile test at room temperature. The polycrystalline Fe–Mn–Al–Ni–V SMAs obtain fully reversible thermoelastic martensitic transformation without quenching, which also prevents the formation of quenching cracks. Single crystal samples were further prepared by directional recrystallization. High number-density and relatively large-size coherent β-NiAl precipitates were obtained to strengthen the matrix in the single crystal without aging, resulting in large stress hysteresis and irrecoverable strain. After aging Fe–Mn–Al–Ni–V single crystal for 3 h at 200 °C, both the stress hysteresis and irrecoverable strain decreased, thereby achieving good pseudoelasticity in Fe–Mn–Al–Ni–V SMAs.
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