This paper evaluates general purpose processor architecture for efficient implementation of signal processing algorithms to meet the demands of a real-time system. A multi-channel linear sensor array configuration has been considered for underwater surveillance and detection purpose. The paper defines mathematical formulations for calculating the signal processing requirements in terms of data rate and processor loading i.e. FLOPS (floating point operations) that help in selecting an appropriate processor having suitable capacity to carry out the computationally intensive processing algorithms. The paper presents execution times of signal processing algorithms like beam forming and spectral analysis on modern Intel processors that include Core2Quad and Core i7 processors. The results show a considerable reduction in the execution times on Intel Core i7 processor using multithreaded programming approach. An example of DSP architecture has also been discussed to establish the perception of implementing signal processing algorithms on latest Intel processors.