The degradation data of multi-components in missile is derived by periodical testing. How to use these data to assess the storage reliability(SR) of the whole missile is a difficult problem in current research. An SR assessment model based on competition failure of multi-components in missile is proposed. By analyzing the missile life profile and its storage failure feature, the key components in missile are obtained and the characteristics voltage is assumed to be its key performance parameter. When the voltage testing data of key components in missile are available, a state space model(SSM) is applied to obtain the whole missile degradation state, which is defined as the missile degradation degree(DD). A Wiener process with the time-scale model(TSM) is applied to build the degradation failure model with individual variability and nonlinearity. The Weibull distribution and proportional risk model are applied to build an outburst failure model with performance degradation effect. Furthermore, a competition failure model with the correlation between degradation failure and outburst failure is proposed. A numerical example with a set of missiles in storage is analyzed to demonstrate the accuracy and superiority of the proposed model. The degradation data of multi-components in missile is derived by periodical testing. How to use these data to assess the storage reliability (SR) of the whole missile is a difficult problem in current research. An SR assessment model based on competition failure of multi -components in missile is proposed. By the curve life profile and its storage failure feature, the key components in missile are obtained and the characteristics voltage is assumed to be its key performance parameter. available, a state space model (SSM) is applied to obtain the whole missile degradation state, which is defined as the missile degradation degree (DD). A Wiener process with the time-scale model (TSM) is applied to build the degradation failure model with individual variability and nonlinearity. The Weibull distribution and proportional risk model are applied to build an outburst failure model with performance degradation effect. Furth ermore, a competition failure model with the correlation between degradation failure and outburst failure is proposed. A numerical example with a set of missiles in storage is analyzed to demonstrate the accuracy and superiority of the proposed model.