Owing to the increasing demand for tribological brakes for space applications, the development of novel materials and advanced technologies is necessary. This paper presents the design, characterization, and realization of powder metallurgy processed metal-matrix friction materials intended for the above-mentioned tribological brakes. Selecting appropriate ingredients, which provides an effective way to tailor the properties of the friction material, is evolving as a strategy to meet the design requirements. The tribological behaviors of the friction material are experimentally investigated under different conditions, and special attention is focused on the vacuum tribology. Examinations and analyses of the friction surface and subsurface corroborate the wear mechanism. In addition, the erosion resistances of the friction material are evaluated by exposure tests of ultraviolet irradiation and atomic oxygen. Finally, present and potential space applications of the friction material are also introduced based on experimental studies.