The availability of inspected systems subject to random deterioration

This paper examines the availability of an inspected system where the rate of deterioration is governed by an exogenous random environment. We develop a qualitative result that exposes the relationship among remaining life, deterioration, and repairs. This result requires no specific distributional assumptions. We use this result in developing a simple bound on stationary availability. We investigate these relationships numerically for a Markovian system and provide insights useful to practitioners in selecting an inspection process that guarantees a target availability.