Recent advances in system reliability discusses developments in modern reliability theory such as signatures, multi-state systems and statistical inference. It describes the latest achievements in these fields, and covers the application of these achievements to reliability engineering practice. The chapters cover a wide range of new theoretical subjects and have been written by leading experts in reliability theory and its applications. The topics include, concepts and different definitions of signatures (D-spectra), their properties and applications to reliability of coherent systems and network-type structures, Lz-transform of Markov stochastic process and its application to multi-state system reliability analysis, methods for cost-reliability and cost-availability analysis of multi-state systems, optimal replacement and protection strategy, and statistical inference.Recent advances in system reliability presents many examples to illustrate the theoretical results. Real world multi-state systems, such as power generation and transmission, refrigeration, and production systems, are considered in the form of case studies.