Electric steering gear is the executive body of aircraft maneuvers and an important part of aircraft guidance system. Based on a simplified model of electric steering gear for study, the first study includes the function and structure principle, the main performance parameters and failure thresholds, storage conditions and failure analysis of the electric steering gear. Secondly, the sensitivity of the various components of the electric steering gear is analyzed in order to determine degradation paths and distribution types of the sensitive components. Then, the storage life modeling methods has been proposed using competing failure model in the paper. Finally, the storage life model has been established and we predict and analyze the storage life of the electric steering gear using Monte Carlo method.