Thermal barrier coatings (TBCs) are widely used to improve the oxidation resistance and high-temperature performance of nickel-based superalloys operating in aggressive environments. Among the TBCs, aluminide coatings (ACs) are commonly utilized to protect the structural parts of jet engines against high-temperature oxidation and corrosion. They can be deposited by different techniques, including pack cementation (PC), slurry aluminizing or chemical vapor deposition (CVD). Although the mentioned deposition techniques have been known for years, the constant developments in materials sciences and processing stimulates progress in terms of ACs. Therefore, this review paper aims to summarize recent advances in the AC field that have been reported between 2019 and 2023. The review focuses on recent advances involving improved corrosion resistance in salty environments as well as against high temperatures ranging between 1000 °C and 1200 °C under both continuous isothermal high-temperature exposure for up to 1000 h and cyclic oxidation resulting from AC application. Additionally, the beneficial effects of enhanced mechanical properties, including hardness, fatigue performance and wear, are discussed.