The good development of Prognostics and Health Management (PHM) technology can effectively realise the diagnosis of faults and improve the reliability and safety of product use. First of all, the importance of PHM and the relevant basic concepts and the gaps in the current development background, as well as the relevant sensor technology are introduced, and the use of multi-fusion sensor technology is mentioned; secondly, the feature extraction and related algorithms in PHM technology are introduced respectively, and the use of PHM technology in aviation technology is mentioned. Problems and solutions of innovation and inadequacy; finally, summarise and look forward to the research and development of PHM technology.