“…Multi-state degradation modelling has recently received considerable attention in the domain of reliability and maintenance engineering [2], [7], [36], [45], [46], as it pragmatically allows setting advanced maintenance paradigms such as Condition-Based Maintenance (CBM) and Predictive Maintenance [62], [63]. In practice, the parameters governing the stochastic transitions among the states of these models are first estimated, based on the available data; then, the degradation model is embedded into the maintenance model to estimate the performance indicators of interest (e.g., unavailability [34], [47], profitability [1], quality in production [11], total costs, risk [19], etc.…”