A system and method for monitoring a reliability status of an actuator include determining a virtual actuator load value (VALV) based on various load factor parameters of a structural system component controlled by the actuator, absent sensed load values from the actuator. A virtual output force value (VOFV) is determined based on various actuator operational control values that occur in response to a position command from a main control and monitoring system of the structural system. A virtual torque efficiency (VTE) of the actuator is calculated based on the VALV and the VOFV. The VTE of the actuator is periodically calculated as the measured load factor parameters and the measured actuator operational control values change during operation of the structural system. The VTE data is collected, stored and analyzed to monitor the reliability status of the actuator during the life of the actuator.