I was hoping to build an Industrial Sensor Test Unit with touchscreen display & User Interface.
For testing & troubleshooting Industrial Sensors, both Analogue & Digital Instruments/Sensors. It would need to be capable of taking 24 Volt DC Inputs and producing 24 Volt DC Outputs & Also reading 24 Volt DC 4-20mA Analogue Inputs, and possibly to generate a 24 Volt DC 4-20mA Analogue Outputs.
Yes, however if your goal is to create a clone of an existing commercial device but at a cheaper price, then you will probably be disappointed.
From a legal point of view, are your customers OK with you using a DIY test box in an industrial environment where a faulty calibration could result in damage to equipment or danger to personnel?
No i dont plan on copying an existing unit, or to use it for carrying out calibration, it is purely to have as a tool for helping me to troubleshoot and test the operation of devices.
As a hobby engineer it is somethingi would like to build that i would have a use for!
Know that "sensors" is wide description. You will have to prepare for a lot of different devices demanding very different interfaces, libraries and software.
For a non-precision solution you can buy a $4 op-amp based voltage to current loop converter board on Ebay/Aliexpress.
To drive the input all you need is an Arduino with an analog output.