The historical success of friction stir welding (FSW) on materials such as aluminum and magnesium alloys is associated with the absence of melting and solidification during the solid-state process. However, commercial adoption of FSW on steels and other non-ferrous high-strength, high-temperature materials such as nickel-base and titanium-base alloys is limited due to the high costs associated with the process. In this dissertation, the feasibility of using an FSW approach to fabricate certain structural components made of nitrogen containing austenitic stainless steels that go into the vacuum vessel and magnetic systems of tokamak devices was demonstrated. The FSW weldments possessed superior application-specific mechanical and functional properties when compared to fusion weldments reported in the technical literature. However, as stated earlier, the industrial adoption of FSW on high temperature materials such as the ferrous alloys used in the present study is greatly limited due to the high costs associated with the process. The cost is mainly dictated by the high temperature FSW tools used to accomplish the weldments. Commercially available high temperature FSW tools are exorbitantly priced and often have short lifetimes. To overcome the high-cost barrier, we have explored the use of integrated computational materials engineering (ICME) combined with experimental prototyping validation to design next-generation tool materials with high performance and relatively low cost. Cermet compositions with either tungsten carbide or niobium carbide as the hard phase bonded by high entropy alloy binders were processed via mechanical alloying and spark plasma sintering. The feasibility and effectiveness of the newly developed cermet tool materials as potential next generation high temperature FSW tool materials was evaluated.