Mechanical properties of thermal spray deposited coatings are highly influenced by their microstructural characteristics. The objective of this investigation is to evaluate the mechanical properties of thermally sprayed coatings consisted of aluminum and zinc based on the coating microstructure, using an image based computational scheme. Microstructural images of coating samples were subjected to image-based finite element analysis and the results were validated by experimental tests and analytical models. Comparison of the experimental data with FEA was used to explain the microstructural basis of the mechanical characteristics of Al-Zn coatings and the differences between two methods of thermal spray techniques. It was concluded that the cold spraying technique produces higher-quality coatings with less porosity and higher hardness compared to wire arc deposition. An isotropic behavior was observed in the cold sprayed coating. Finally, the electrochemical tests showed that the coating with a higher amount of zinc had better anti-corrosion properties.