High velocity solid particle erosion may cause severe damage and high wear rates in materials used for wear protection. An experimental work on the behavior of wear resistant steels, including three high-strength martensitic alloys and a carbide-reinforced metal matrix composite, was performed in high rate single impact conditions. Characterization of the mechanical behavior of the materials at high strain rates was conducted using the Hopkinson Split Bar technique to identify the effects of strain rate on strain hardening and the prevailing failure mechanisms. The high velocity impact experiments using spherical projectiles were carried out at various impact angles and projectile velocities. The effects of impact energy and impact angle were studied and discussed. Wear was analyzed as volume loss from the surface, but it was also presented in a more precise way by taking into account the actual energy spent on the plastic deformation and wear. In-situ high speed photography and post impact characterization of the impact craters were used to reveal the prevailing failure and wear mechanisms. Depending on the impact angle and impact energy, different wear mechanisms of plastic deformation, cutting, shear banding and fracture were identified. The martensitic steels exhibited adiabatic shear banding in the microstructure at high strain rates and impact velocities, which may accelerate the wear. The carbide reinforced steel was found susceptible to catastrophic fracturing especially at high impact angles.