PurposeHydraulic slide valve failure often results from competing failure modes, termed competitive failure. To enhance prediction accuracy for hydraulic slide valve remaining useful life, the authors propose a method incorporating competitive failure and Monte Carlo simulation. This method allows for more accurate prediction of hydraulic slide valve remaining useful life.Design/methodology/approachIn this paper, the competitive failure mode of the hydraulic slide valve is analyzed by studying the two failure modes of the hydraulic slide valve, and the prediction of the remaining useful life of the hydraulic slide valve is studied by using the sample set generated by Monte Carlo simulation and the competitive failure joint model.FindingsThe results show that the proposed prediction method based on competitive failure and Monte Carlo simulation is more accurate than the traditional Bayesian joint model prediction method when dealing with the failure mode competition phenomenon of hydraulic slide valve.Originality/valueIn this paper, the remaining useful life prediction of hydraulic slide valve with competitive failure characteristics is studied, which provides a new idea for the remaining useful life prediction method.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-11-2023-0361/