Airlines industry is a capital intensive industry. Due to the growing competition, the return on investment and the profits are reducing and the industry is facing with a big challenge to sustain profits. Aircraft sales directly rely on the aircraft engine market. In the recent times, aircraft manufacturers and airliners demand aircraft engines that provide maximum performance with an optimal purchase and maintenance cost. The reliability of aircraft engines and its components is a major concern to the aerospace industry.

This paper aims to explore the various aspects of reliability analysis and what are the emerging trends in this field. The paper then focuses on Weibull analysis as one of the statistical analysis methods used to carry out reliability analysis.