This book presents the latest research in the fields of reliability theory and its applications, providing a comprehensive overview of reliability engineering and discussing various tools, techniques, strategies and methods within these areas. Reliability analysis is one of the most multidimensional topics in the field of systems reliability engineering, and while its rapid development creates opportunities for industrialists and academics, it is also means that it is hard to keep up to date with the research taking place. By gathering findings from institutions around the globe, the book offers insights into the international developments in the field. As well as discussing the current areas of research, it also identifies knowledge gaps in reliability theory and its applications and highlights fruitful avenues for future research.