Recent developments in big data analysis, machine learning, Industry 4.0, and IoT applications have enabled the monitoring and processing of multi-sensor data collected from systems, allowing for the prediction of the "Remaining Useful Life" (RUL) of system components. Particularly in the aviation industry, Prognostic Health Management (PHM) has become one of the most important practices for ensuring reliability and safety. Not only is the accuracy of RUL prediction important, but the implementability of techniques, domain adaptability, and interpretability of system degradation behaviors have also become essential. In this paper, the data collected from the multi-sensor environment of complex systems are processed using a Functional Data Analysis (FDA) approach to predict when the systems will fail and to understand and interpret the systems' life cycles. The approach is applied to the C-MAPSS datasets shared by National Aeronautics and Space Administration, and the behaviors of the sensors in aircraft engine failures are adaptively modeled with Multivariate Functional Principal Component Analysis (MFPCA). While the results indicate that the proposed method predicts the RUL competitively compared to other methods in the literature, it also demonstrates how multivariate Functional Data Analysis is useful for interpretability in prognostic studies within multi-sensor environments.
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