In order to strengthen the guiding and supporting role of the innovation-driven development strategy, and to promote the structural optimization and efficiency improvement of the equipment manufacturing industry, this paper analyzes the structure, function and characteristics of the regional equipment manufacturing industry innovation network, and proposes a conceptual model and theoretical hypothesis that the innovation network based on the mediating effect of innovation capability affects the upgrade effect of the regional equipment manufacturing industry. Through a questionnaire survey of 219 enterprises in my country’s equipment manufacturing industry and structural equation model verification, it measures the action path and industrial upgrading law of innovation network influencing regional equipment manufacturing industry upgrading.