Current trends in Industry 4.0 are largely related to issues of reliability and availability. As a result of these trends and the complexity of engineering systems, research and development in this area needs to focus on new solutions in the integration of intelligent machines or systems, with an emphasis on changes in production processes aimed at increasing production efficiency or equipment reliability. The emergence of innovative technologies and new business models based on innovation, cooperation networks, and the enhancement of endogenous resources is assumed to be a strong contribution to the development of competitive economies all around the world. Innovation and engineering, focused on sustainability, reliability, and availability of resources, have a key role in this context. The scope of this Special Issue is closely associated to that of the ICIE'2020 conference. This conference and journal's Special Issue is to present current innovations and engineering achievements of top world scientists and industrial practitioners in the thematic areas related to reliability and risk assessment, innovations in maintenance strategies, production process scheduling, management and maintenance or systems analysis, simulation, design and modelling.