Accurate prediction of airborne equipment failure rate can provide correct repair and maintenance decisions and effectively establish a health management mechanism. This plays an important role in ensuring the safe use of the aircraft and flight safety. This paper proposes an optimal combination forecasting model, which mixes five single models (Multiple Linear Regression model (MLR), Gray model GM (1, N), Partial Least Squares model (PLS), Artificial Neural Network model (BP), and Support Vector Machine model (SVM)). The combined model and its single model are compared with the other three algorithms. Seven classic comparison functions are used for predictive performance evaluation indicators. The research results show that the combined model is superior to other models in terms of prediction accuracy. This paper provides a practical and effective method for predicting the airborne equipment failure rate.