This paper is devoted to a method of extraction of guided waves phase velocities from experimental signals. Measurements are performed using an axial transmission device consisting of a linear arrangement of emitters and receivers placed on the surface of the inspected specimen. The technique takes benefit of using both multiple emitters and receivers and is validated on a reference wave guide. The guided mode phase velocities are obtained using a projection in the singular vectors basis. The singular vectors are determined by the singular values decomposition (SVD) of the response matrix between the two arrays in the frequency domain. This technique enables to recover accurately guided wave phase velocity dispersion curves. The SVD based approach was designed to overcome limitations of spatio-temporal Fourier transform for receiver array of limited spatial extent as in the case of clinical assessment of cortical bone in axial transmission.