This thesis describes a technique for real-time process monitoring using ultrasound. Real time thickness data was obtained during deposition of electroless nickel onto a steel substrate. The application of this novel technique results in a measurement accuracy an order of magnitude greater than that of current techniques. This increased measurement accuracy gives the ability to deposit and build electroless nickel on components up to their final dimension without a final grind process. This thesis explains the design and manufacturing of the heat and chemical resistant transducer case required for on-line immersion testing, experimental design, data acquisition and signal processing. Results are presented for several depositions with an accuracy of 0.0002 inches in coating thickness obtained.