The metal-to-metal volumetric power drilling tool is one of the current hotspots in high-temperature drilling research. It is subject to complex conditions such as metal friction, high-speed erosion, high-temperature corrosion, torsion, and vibration in the well, which places higher requirements on material selection and manufacturing processes. This article first investigates the common material composition, mechanical properties and processing performance of the stator and rotor of the motor in the existing downhole tools, and then analyzes the requirements and difficulties of ultra-deep well drilling for the metal-to-metal drilling motor parts. The material for the rotor and stator is selected with a new copper-iron-based composite for the rotor components. Investigation and analysis is also conducted on the existing machining process with the recommendation put forward, providing a reference basis for the design and service life research on metal-to-metal power drill motor components.