Abstract: The existing reliability prediction methods based on physics of failure (PoF) models merely calculate electronic products’ time to failure responding to a single typical mission profile. A novel reliability parameter calculation method based on PoF models and Monte Carlo simulation is presented, which can quantitatively analyze the reliability of electronic products actually undergoing multiple mission profiles in the whole life cycle. The method is applied to some airborne electronic equipment to calculate the mean time to failure (MTTF) and build time functions of failure rate and reliability. The results are contrastively analyzed with those concluded by the empirical model based method and reliability enhancement testing. It shows that the proposed method can not only calculate reliability parameters but also find out design weaknesses and their quantitative relationships with reliability parameters, which is an effective guidance to design improvements.