The rail profile milling process allows considerable thickness to be removed in a single pass. However, the residual waviness formation law after milling and its subsequent effect on rail performance remains uncertain. In this paper, the wavelength and wave height of the residual waviness are identified as the key characteristics. The relationship between milling speed and residual waviness is determined, and a numerical model of the residual waviness formed on the surface after milling is established based on the commonly used three milling speeds of 300, 600, and 1000 m/h, and its accuracy is verified using the parameters of the residual waviness detected by the milling experiments. A three-dimensional finite element analysis model of wheel-rail contact was employed to analyze the contact stresses and low fatigue cycles at a wheel load of 11.5 tons with no residual waviness on the rail profile surface and with three types of residual waviness, respectively. The results show that the residual waviness changes the wheel-rail contact position and the morphology of the contact area, reduces the maximum contact stress and increases the strain fatigue cycles. The application of elevated milling speeds reduces the wheel-rail contact stresses after milling, thereby increasing the low fatigue cycles.
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