Fast neutron activation analysis experiments were performed to investigate the analytical possibilities and prospective utilization of short-lived activation products. A rapid pneumatic transfer system for use with neutron generators has been installed and applied for detecting radionuclides with a half-life from 300 ms to 20 s. The transport time for samples of total mass of 1–4 g is between 130 and 160 ms for pressurized air of 0.1–0.4 MPa. The reproducibility of transport times is less than 2%. The employed method of correcting time-dependent counting losses is based on the virtual pulse generator principle. The measuring equipment consists of CAMAC modules and a special gating circuit. Typical time distributions of counting losses are presented. The same 14 elements were studied by the conventional activation method (single irradiation and single counting) by both a typical pneumatic transport system (run time 3 s) and the fast pneumatic transport facility. Furthermore, the influence of the cyclic activation technique on the elemental sensitivities was investigated.