Reliability and maintainability of mechanical equipment are researched through quantitative and qualitative analysis, and statistical analysis is calculated with the example of 1K36-type turret lathe, and reliability and maintainability parameters of 1K36-type turret lathe and its subsystems are gained. The results show that reliability function shows exponential distribution shows exponential distribution and maintenance degree function shows weibull distribution. Mean time between failures (MTBF) is 449 h, mean time to repair (MTTR) is 22.1h. This study provides some practical value and a reference for the manufacture and use of mechanical equipment.