Abstract: Disclosed herein is a shape memory alloy comprising 48 to 50 atomic percent nickel, 15 to 30 atomic percent hathium, 1 to 5 atomic percent aluminum; with the remainder being titanium. Disclosed herein too is a method of manufacturing a shape memory alloy comprising mixing together to form an alloy nickel, hafnium, aluminum and titanium in amounts of 48 to 50 atomic percent nickel, 15 to 30 atomic percent hafnium, 1 to 5 atomic percent aluminum; with the remainder being titanium; solution trea…