The structure and properties of condensates of aerosols of metal aerogels (density 0.1–0.2 g/cm3) produced under strongly non-equilibrium conditions as a result of electric explosion of conductors are analyzed. It is shown that the properties of small metal particles depend on the area of the specific surface and the ratio between the heat for formation of a substance in the form of small particles and the heat of melting. As the particle size decreases, the melting temperature of metals decreases, and spontaneous sintering occurs accompanied by the decrease of the specific surface of aerogels in the disperse phase. The properties of electric-explosion metal aerogels differ widely from those of aerogels produced under equilibrium conditions. A particular attention is paid to peculiarities of burning of metal aerogels in the air atmosphere associated with the chemical fixation of nitrogen from air and stabilization of aluminum nitride in the resulting burning products for aluminum–air aerogels.