Physical significance of Eigenvalues and Eigenvector?

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kgirish
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I want to know what exactly Eigen value imply. What is its Physical significance ? Physical significance of eigen vector? Does eigen value concept apply in signal processing or evalvating frequency response off a system?
 
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The "physical significance" of something is a physics question, not a mathematics question.
 
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Eigenvalues are very useful in engineering as are differential equations and Lapace transforms, and frequency response. I'll wager you think of frequency response as something physical, but all these things are math methods that make some things easier to visualize and to manipulate.

See https://en.m.wikipedia.org/wiki/Eigenvalue,_eigenvector_and_eigenspace#Dynamic_equations to see their general usefulness to solving dynamic equations.

As DaleSpam said, the actual physical significance depends on the application, and there are many such.

If you work in signal processing someone might ask you "what is the physical significance of multiplying a signal by a transfer function?" How would you answer?