The main focus of this article is a review of legacy methods for vibration damage estimation under stochastic loading and extending research made by Dirlik and Bendat using two combined methods: FEM and Monte Carlo simulation, for which we used Python programming for aerospace applications. For some aircraft, regulated by the RTCA international aviation standard DO-160G (Environmental Conditions and Test Procedures for Airborne Equipment), stochastic loading is defined as one of the requirements. This article will focus on the stochastic loading impact on the fatigue life assessment made on a dummy sample, and frequency and time domain damage estimation shall be considered in parallel to compare both results. Additionally, dummy PSD responses shall be defined in the frequency domain for signal statistical parameters research. The article introduces Rainflow Cycle Counting methods in the frequency domain for procedures used commercially in aerospace applications. The first method introduced and developed further is the Dirlik method of Rainflow Cycle Counting in the frequency domain, which is the most popular method in commercial use. The second technique introduced and developed further was established by Bendat — the Narrow Band Method. The new empirical equation presented in this paper is the modification of the Narrow Band Method fitted for general use (narrow band, wide band, and white noise signals). A new approach for the integration of spectral moments is introduced in this paper, allowing for an accurate evaluation of the signal statistic parameters in the frequency domain for use in the modified Dirlik and Narrow Band methods. Research results also revealed new phenomena not researched by Dirlik, such as high vibration damage variation from stochastic loading, which depends on the frequency resolution (the block size used in Inverse Fourier Transformation). This discovery will be the subject of further study. Research results presented in this paper will also be utilised to combine stochastic and deterministic loading scenarios for military helicopters, as well as fighter aircraft, and will be the subject of further research.