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The appropriate maintenance strategy is essential for maintaining the thermal power plant highly reliable. The thermal power plant is a complex system that consists of various subsystems connected either in series or parallel configuration. The boiler–furnace (BF) system is one of the most critical subsystems of the thermal power plant. This paper presents availability based simulation modeling of the boiler–furnace system of thermal power plant with capacity (500MW). The Markov based simulation model of the system is developed for performance analysis. The differential equations are derived from a transition diagram representing various states with full working capacity, reduced capacity, and failed state. The normalizing condition is used for solving the differential equations. Furthermore, the performance of the system is analyzed for a possible combination of failure rate and repair rate, which revealed that …