According to some shortcomings of armored equipment maintenance, such as 'surplus maintenance' and 'corrective maintenance', Prognostics and Health Management (PHM) technology which was brought forward by USA army was introduced. Aiming at an armored vehicle engine, augmented-Failure Mode and Effect Analysis(aFMEA) was proceeded. Analysis on failure symptoms and sensor installation was introduced into the traditional FMEA method, aFMEA is no longer limited to static analysis on failure mode and effect. Then, the structure of armored equipment PHM system was established, its function module was designed concretely. The investigation and discussion on establishment methods of armored equipment PHM system was proceeded.