Magnetostrictive sensors (MsSs) that can excite and receive guided waves are commonly used in detecting defects that may occur in cables and strands for supporting heavy structures. A conventional MsS has a hard sensing coil that is wound onto a bobbin with electric wires to generate the necessary dynamic magnetic field to excite the desired guided waves. This tailor-made hard coil is usually bulky and is not flexible enough to fit steel strands of various sizes. The conventional MsS also cannot be mounted to any steel strand that does not have a free end to allow the bobbin to pass through the structure of the tested strand. Such inflexibilities limit the use of conventional MsSs in practical situations. To solve these limitations, an innovative type of coil, called a flexible printed coil (FPC), which is made out of flexible printed film, has been designed to replace the inflexible hard coil. The flexible structure of the FPC ensures that the new MsS can be easily installed on and removed from steel strands with different diameters and without free ends. Moreover, the FPC-based MsS can be wrapped into multiple layers due to its thin and flexible design. Although multi-layer FPC creates a minor asymmetry in the dynamic magnetic field, the results of finite element analysis and experiments confirm that the longitudinal guided waves excited by a FPC-based MsS are comparable to those excited by a conventional hard coil MsS. No significant reduction in defect inspection performance was found; in fact, further advantages were identified when using the FPC-based MsS. When acting as the transmitter, the innovative FPC-based MsS can cover a longer inspection length of strand. When acting as the receiver, the FPC-based MsS is more sensitive to smaller defects that are impossible to detect using a hard coil MsS. Hence, the multi-layer FPC-based MsS has great potential for replacing the conventional hard coil MsS because of its convenient installation, and ease of fitting to different strand diameters; it is smaller, and, most importantly, performs much better in strand defect detection.