A flow conditioning device for incrementally stepping down pressure within a piping system is presented. The invention includes an outer annular housing, a center element, and at least one intermediate annular element. The outer annular housing includes an inlet end attachable to an inlet pipe and an outlet end attachable to an outlet pipe. The outer annular housing and the intermediate annular element(s) are concentrically disposed about the center element. The intermediate annular element(s) separates an axial flow within the outer annular housing into at least two axial flow paths. Each axial flow path includes at least two annular extensions that alternately and locally direct the axial flow radially outward and inward or radially inward and outward thereby inducing a pressure loss or a pressure gradient within the axial flow. The pressure within the axial flow paths is lower than the pressure at the inlet end and greater than the vapor pressure for the axial flow. The invention minimizes fluidic instabilities, pressure pulses, vortex formation and shedding, and/or cavitation during pressure step down to yield a stabilized flow within a piping system.