A study has been undertaken to examine the feasibility of using a powder metallurgy (P/M) approach for the fabrication of an orthorhombic (O; Ti2AlNb)-based titanium aluminide alloy intended for use as a matrix in a continuous fiber reinforced titanium matrix composite (TMC). Spherical powder of Ti-22Al-26Nb (at%) was produced using inert gas atomization. The atomized powder was sieved to −80 mesh (<177 μm) size fraction and used in the fabrication of unreinforced “neat” panels via the tape casting process. Microstructural and phase chemistry examinations of the as-produced powder, thermally exposed powder and neat matrix were conducted using back-scatter electron scanning electron microscope (BSE SEM) imaging, wavelength dispersive spectroscopy (WDS), and TEM analysis. Mechanical behavior studies of the as-fabricated and heat treated neat material included: tensile, creep and isothermal fatigue. Results obtained for the P/M-based neat material were compared to previously obtained foil-based neat data, and to those property requirements necessary to be considered for use as a matrix in the fabrication of O TMCs.