This research work encompasses the investigations carried out on the mechanical and metallurgical properties of maraging steel and AISI 4340 aeronautical steel weldments. The materials were joined by continuous current gas tungsten arc welding (CCGTA) and pulse current (PCGTA) gas tungsten arc welding processes using ErNiCrMo-3 filler wire. Cross sectional macrostructures confirmed proper deposition of the fillers and lack of discontinuities. Optical microscopy studies revealed that at the maraging steel-weld interface, martensite in distorted and block forms prevailed in CCGTA and PCGTA weldments whereas tempered martensite was predominant at the low alloy-weld interfaces of both the welds. Scanning electron microscopy (SEM) with energy dispersive analysis of X-rays (EDAX) analysis apparently showed less elemental migration in PCGTA weldments as compared to the other. Results of X-ray diffraction analysis recorded possible phase formations in various zones of the weldments. Microhardness profiles in either weld zones followed a constant trend whereas it showed a downtrend in the heat affected zones (HAZ) of the maraging steel and very high hardness profiles were observed in the low alloy steel side. Tensile studies on various factors and impact testing showed that PCGTA weldments outperformed the continuous ones in terms of strength, ductility and toughness. Fractograph analysis depicted the nature of failures of tensile and impact tested specimens. Comparison analyses involving influence and nature of pulsed current welds over continuous ones were done to determine the possibility of implementing these joining processes in aerospace applications. Weldments fabricated using PCGTA technique proved to be superior to the other, resulting in exceptional mechanical properties. © 2014 Elsevier Ltd.