Abstract: Real-time data acquisition system with acoustic emission (AE) sensors could provide early warning to the threat of impact to spacecraft by space debris. In this paper, the design and development of a high-speed data acquisition system with Graph-Language LabVIEW 7 are presented. The system involves real-time waveform display, data acquisition and storage. It is shown that the response is fast, the precision and stability are high, and the interface is friendly.