It is necessary to make the tape winding system have good reliability. Because the power system usually is a pneumatic or hydraulic system, the static reliability analysis lacks the ability to describe the dynamic state transfer, component fault correlation, and propagation effect of the system; it is difficult to accurately reflect the actual behavior of the complex system. Most of the existing research results lack the situation that the importance of bottom events changes with time; only a single number cannot express the impact of bottom events on top events at different times. Therefore, this study uses the dynamic reliability analysis method to quantitatively analyze the reliability of the tape winding power hydraulic system. Firstly, the dynamic reliability model of hydraulic system is established by using the continuous-time T-S dynamic fault tree to solve the fault rate of the system. Secondly, the results are compared with the traditional Markov chain analysis method of dynamic fault tree. The feasibility and advantages of the continuous-time T-S dynamic fault tree analysis method are verified. Finally, the probability importance and key importance of the system unit are calculated, and the law of importance changing with time is expressed. According to the importance of different time, it can help the regular maintenance and fault diagnosis of equipment.