Suggest buying the book by Neva Scheve about buying horse trailers. She goes into depth about steel v aluminum
https://www.amazon.com/Complete-Maintaining-Servicing-Trailer-reference/dp/0876056869
While at one point the "horse will kick through aluminum may have had merit, the way horse trailers are built and designed today seem to have resolved that problem if it ever was the case. Since there are no regulations or requirements on how trailers must be built --you could build one out of cardboard, call it a horse trailer, and sell it, however, horse people are a chatty group. It wouldn’t take long before a poorly constructed trailer and the company that made it were widely known.
I have a trailer that is aluminum skin over steel frame --advantages of both, I think with strong construction and great appearance (my previous steel trailer began to rust the minute I bought it). My 2004 Merhow shows 0 rust or discoloration and has been kept outside for 14 years. The second big concern about aluminum trailers is that a horse would not survive a wreck in an aluminum trailer where it would in a steel trailer. I guess that goes to would a horse survive a wreck? Steel or aluminum, it seems if there’s a vehicle accident, the horse, not being restrained in either type of trailer, would probably be hurt. So many factors come into play besides the material the trailer is made of.
I suspect that more horses are hurt in poorly maintained trailers than in trailer accidents where one vehicle hits another. Make sure all lights are working, all floor boards solid, all screws, nails rivets attached, mats are in good shape, footing is clean, and windows are closed enough that the horse can’t stick his head out or receive an eye injury. That’s about the best one can do --short of never taking the horse in a trailer.
That’s my opinion, anyway. And big shout out to Merhow customer service who sent me a free key when I lost mine --sent them the vin number of the trailer and they sent me a key that fit my locks! Wow!