Non-Destructive Testing of industrial components carries vital importance, both financially and safety-wise. Among all Non-Destructive techniques, Long Range Ultrasonic Testing utilizing the guided wave phenomena is a young technology proven to be commercially valid. Owing to its well-documented analytical models, Ultrasonic Guided Waves has been successfully applied to cylindrical and plate-like structures. Its applications to complex structures such as multi-wire cables are fairly immature, mainly due to the high complexity of wave propagation. Research performed by the author approaches the long range inspection of overhead transmission line cables using ultrasonic guided waves. Existing studies focusing on guided wave application on power cables are extremely limited in inspection range, which dramatically degrades its chances of commercialization. This thesis consists of three main chapters, all of which approaches different problems associated with the inspection of power cables. In the first chapter, a thorough analysis of wave propagation in ACSR (most widely used power cable) cables is conducted. It is shown that high frequency guided waves, by concentrating the energy on the surface layers, can travel much further in the form of fundamental longitudinal wave mode, than previous studies have shown. Defect detection studies proved the system’s capability of detecting defects which introduce either increase or decrease in cross sectional area of the cable. Results of the chapter indicate the detectability of defects as small as 4.5% of the cross sectional area through a 26.5 meter long cable without any post-processing. In the second chapter, several algorithms are proposed to increase the inspection range and signal quality. Well-documented wavelet-denoising algorithm is optimized for power cables and up to 24% signal-to-noise ratio improvement is achieved. By introducing an attenuation correction framework, a theoretical inspection range of 75 meters is presented. A new framework combining dispersion compensation and attenuation correction is proposed and verified, which shows an inspection range of 130 meters and SNR improvement up to 8 dBs. Last chapter addresses the accurate localization of structural defects. Having proven the optimum excitation and related wave propagation in ACSR cables, a system having a more complex wave propagation characteristics is studied. A new algorithm combining pulse compression using Maximal Length Sequences and dispersion compensation is applied to multi-modal signals obtained from a solid aluminum rod. The algorithm proved to be able to improve signal quality and extract an accurate location for defects. Maximal Length Sequences are compared to chirp signals in terms of SNR improvement and localization, which produced favourable results for MLS in terms of localization and for chirp in terms of SNR improvement.