Photogrammetry is popular as a non-contact full-field data acquisition technique for machine condition monitoring purposes. Two popular implementations thereof are Digital Image Correlation (DIC) and 3D Point Tracking (3DPT). Since these two approaches require surface preparation in the form of applying speckle patterns or discrete markers, their use is negated in several industrial applications, such as the online condition monitoring and/or assessment of horizontal axis wind turbines. A shape-based photogrammetric approach that focuses on analysing changes in the form of a rotating blade’s boundary contour is a viable alternative that does not require any surface preparation. 3D shapes of a blade at a particular instance can be extracted from a pair of stereoscopic images of the blade. Shape Principal Component Descriptors (SPCDs) determined from applying Principal Component Analysis (PCA) to Fourier coefficients of chain-code shape signatures of the blade contour can be determined. These can be regarded as indicators of the form of the shape, and as the blade rotates, variations in the SPCDs can be investigated to better understand the dynamics of the blades. This paper focuses on the application and performance evaluation of data reduction and classification techniques for a novel shape-based photogrammetry condition monitoring technique. Investigations are conducted to show that applying data reduction methods to raw time domain SPCDs can result in successful classification of differently damaged blades. Post-processing strategies are developed to ensure a more robust shape based condition monitoring tool for analysing turbine blades. Kernel Principal Component Analysis (KPCA) is implemented and it is shown that it out-performs the conventional PCA in terms of classifying different blade damage modes. The feasibility of using multi-domain statistical features as feature vectors to which PCA or KPCA is applied for classification purposes is also investigated. Results indicating how well differently damaged blades can be distinguished are provided, and it is clearly illustrated that multi-domain statistical features are more robust to noise contamination in the signals compared to using the raw SPCDs data.