The characteristics of elastic waves emanating from crack initiation in 2024 and 5052 aluminum alloys subject to static and fatigue loading are investigated through laboratory experiments. The objective of the study is to determine difference in the properties of the signals generated from static and fatigue tests and also to examine if the sources of the waves could be identified from the temporal and spectral characteristics of the acoustic emission (AE) waveforms. The signals are recoded using non-resonant, flat, broadband transducers attached to the surface of the alloy specimens. The time dependence and power spectra of the signals recorded during the tests were examined and classified according to their special features. Three distinct types of signals were observed. The waveforms and their power spectra were found to be dependent on the material and the type of fracture associated with the signals. Analysis of the waveforms indicated that some signals could be attributed to plastic deformation associated with static tests. The potential application of the approach in health monitoring of aging aircraft structures using a network of surface mounted broadband sensors is discussed.