AlTiN coatings were deposited by High Power Impulse Magnetron Sputtering (HiPIMS) and Arc Ion Plating (AIP) on cemented carbide and investigated concerning structure, mechanical properties, and turning performance. The scanning electron microscope with attached energy-dispersive X-ray spectroscopy was used to characterize growth morphology and coating composition. A laser confocal scanning microscope was employed to measure the surface roughness. X-ray diffractometer was utilized to analyze the phase structure of coatings, and coating hardness was detected by nanoindentation tests. Besides, the cutting performance and failure mechanism of coated turning inserts were studied by dry machining 316L stainless steel. Results reveal that the AIP- and HiPIMS-AlTiN coatings exhibit columnar grain growth, while the latter obtains a more smooth surface with lower surface roughness. The two coatings show a comparable hardness with a value of about 30 GPa. Whereas the HiPIMS-AlTiN has a lower elastic modulus, signifying a higher plastic deformation resistance. The flank wear length reaching to 200 μm is the evaluation criteria of the tool wear. During the dry turning test, the uncoated insert is worn over 200 μm after continuous cutting for 1 minute (cutting distance=180 m). However, when cutting for 9 min (1620 m), the flank wear lengths of AIP-AlTiN and HiPIMS-AlTiN coated tool was 231 μm and 190 μm, respectively, implying the HiPIMS coating had a superior cutting performance. The primary wear mechanisms of two coating tools are adhesion wear, abrasive wear, and oxidation wear.