This dataset was used for the prognostics challenge competitionat the International Conference on Prognostics and Health Management (PHM08). The challenge is still open for the researchers to develop and compare their efforts against the winners of the challenge in 2008.
Some parameters obtained during turbo fan engine operation are given in the data set. A model has to be built upon the training data that can predict the life span of an engine given time series data upto some extent during its life cycle.
Please see our approach here.