In industrial manufacturing of microelectronic components, non-destructive failure analysis methods are required for either quality control or for providing a rapid fault isolation and defect localization prior to detailed investigations requiring target preparation. Scanning acoustic microscopy (SAM) is a powerful tool enabling the inspection of internal structures in optically opaque materials non-destructively. In addition, depth specific information can be employed for two- and three-dimensional internal imaging without the need of time consuming tomographic scan procedures. The resolution achievable by acoustic microscopy is depending on parameters of both the test equipment and the sample under investigation. However, if applying acoustic microscopy for pure intensity imaging most of its potential remains unused. The aim of the current work was the development of a comprehensive analysis toolbox for extending the application of SAM by employing its full potential. Thus, typical case examples representing different fields of application were considered ranging from high density interconnect flip-chip devices over wafer-bonded components to solder tape connectors of a photovoltaic (PV) solar panel. The progress achieved during this work can be split into three categories: Signal Analysis and Parametric Imaging (SA-PI), Signal Analysis and Defect Evaluation (SA-DE) and Image Processing and Resolution Enhancement (IP-RE). Data acquisition was performed using a commercially available scanning acoustic microscope equipped with several ultrasonic transducers covering the frequency range from 15 MHz to 175 MHz. The acoustic data recorded were subjected to sophisticated algorithms operating in time-, frequency- and spatial domain for performing signal- and image analysis. In all three of the presented applications acoustic microscopy combined with signal- and image processing algorithms proved to be a powerful tool for non-destructive inspection.