Titanium-tantalum shape memory alloys (SMAs) are promising candidates for actuator applications at elevated temperatures. They may even succeed in substituting ternary nickel-titanium high temperature SMAs, which are either extremely expensive or difficult to form. However, titanium-tantalum alloys show rapid functional and structural degradation under cyclic thermo-mechanical loading. The current work reveals that degradation is not only governed by the evolution of the ω-phase. Dislocation processes and chemical decomposition of the matrix at grain boundaries also play a major role.