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The aircraft components' lifetime is a key decision–making metric for the performance of safety–critical items. The piece–part degradation and age–related changes are critical from the perspective of design and continued airworthiness. The most obvious issue during design development is to establish the need for planned replacement for components that are known to have a limited life. During investigation of an airworthiness issue, it is necessary to determine if the anomaly is time–dependent. If it is, then the anticipated failure probability as a function of time must be estimated such that a decision regarding corrective action can be made. For both cases, an analysis must be performed to determine if and when planned replacement is necessary. Because unanticipated retrofits are costly and difficult, credible and accurate lifetime prediction is essential.