This paper investigates and compares four commonly used flow transport equation-based cavitation models and their applicability to predict the cavitation performance of an industrial centrifugal pump with a helical inducer. The main purpose of this study is to identify, for this specific application, the most appropriate cavitation model and the associated empirical constants. Each cavitation model is reviewed in detail and the uniqueness of each model is outlined. Each cavitation model is incorporated in a computational fluid dynamics code to study the vaporization and condensation transport rate of the fluid. Experimental tests are conducted on a pump system to determine the true cavitation performance in terms of net positive suction head (NPSH). Experimental results are compared to simulation results for different cavitation models to validate cavitation performance predictions, along with the empirical constants. Lastly, bubble formation, cavitation inception, and bubble growth predicted by each cavitation model are compared with the experimental results. A sensitivity analysis is conducted in order to determine the impact of each set of empirical constants to the condensation and the vaporization rate in the centrifugal pump. Results show that two of the cavitation models exhibit high dependency on the empirical constants in terms of change in vaporization rate. Modifications to empirical constants for two of the four cavitation models are suggested to obtain agreement with the experimentally observed cavitation behavior and better predict NPSH performance for the industrial pump studied.