MagSys is a portable magnetic sensing device where nanostructured Fe-Co based magnetic wires of diameter 80-120 micron prepared by in-rotating water quenching technique is used as a core material in the probe-head, The magnetic wire material exhibit Giant Magneto-Impedance (GMI) properties. The output signal of the sensor is proportional to the magnetic field generated by the test object, If there is change in composition, microstructure or residual stress of the test object due to in-service operation, the magnetic properties also change and hence the output signal of the sensor.