An apparatus for analyzing fluid flow in a pipe includes an ultrasonic flowmeter having a plurality of transducers. The apparatus includes a flow element having a completely smooth bore through which the fluid flows, and a plurality of cavities, each of the cavities has one of the plurality of transducers disposed in it and which is in communication with the fluid flowing through the bore. An apparatus for analyzing fluid flow in a pipe includes an ultrasonic flowmeter having a plurality of transducers. The apparatus includes a flow element having a bore with an internal diameter and a surface through which fluid flows, a plurality of cavities each of which has an opening in the surface. Each of the cavities has one of the plurality of transducers disposed in it.