Two-phase (α+β) titanium alloys offer an attractive range of properties, by combining advantagesof the light-weight, creep and corrosion resistant α alloys and the high-strength β alloys, containing better formability. Typical environments where these high-performance requirements have to be met are the aerospace industry, racing sports, oil and gas industry, but also the defence sector. In the present work an alloy and process development based on the concept of the widely used Ti-6Al-4V (m.%) alloy was realized. It was the goal to optimize the properties for the application in ballistic protection devices, and, at the same time, to improve processing for industrial manufacturing of sheet and plate via a hot-rolling route. In order to consider the full spectrum of microstructures of (α + β) alloys, i.e. the full spectrum of mechanical properties, post-deformation heat treatments were conducted on hot-rolled material. The focus of this work is lying on the comparison between the newly developed alloys and the Ti-6Al-4V alloy. The comparison could be drawn by means of mechanical tests in the quasi-static and dynamic regime as well by conducting ballistic tests on plate material. Complementarily, extensive microstructural characterization gives insight into the alloys’ microstructure, which leads to a better understanding of the observed damage mechanisms during mechanical testing at high strain rates. As a result of this work, a new (α + β) alloy, that exhibits improved ballistic protection properties and an extended range of mechanical properties was developed. Within the present study a reduction of process temperature of about 100 ℃ was reached and the resulting maximum tensile strength was increased by ≈10 %, when compared to the benchmark alloy Ti-6Al-4V.