A powder form of a hard phase component, selected from the group consisting of boron carbide, silicon carbide and a mixture of boron carbide and silicon carbide, is combined with an aluminum alloy matrix powder and applied to a metal substrate using plasma transferred arc ("PTA") welding to produce a hardfaced structure having a wear-resisting carbide metal matrix composite overlay. The metal substrate can be any metal structure, such as an aluminum, aluminum alloy, steel or carbon steel structure, where wear resistance is desirable. Further, a process for hardfacing a metal substrate is disclosed comprising feeding a hard phase powder, selected from the group consisting of boron carbide, silicon carbide and a mixture of boron carbide and silicon carbide, and an aluminum alloy metal matrix powder to an operative PTA welding torch and welding to form a carbide metal matrix composite overlay fused to a metal substrate. The metal substrate produced by the hardfacing process herein exhibits increased wear resistance without a significant increase in the overall weight of the metal substrate.