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The influence mechanism, path of independent innovation, and open innovation of Liaoning’s equipment manufacturing industry on its international competitiveness is not only an important issue to be studied by the theoretical circles but also a realistic issue that the government, relevant departments, and enterprises need to pay attention to. This paper first analyzes the current situation of Liaoning’s equipment manufacturing industry from the aspects of industrial production capacity, current market situation, and industrial scale. Then, it evaluates the international competitiveness of Liaoning’s equipment manufacturing industry by using the RCA index and TC index. It constructs the evaluation index system of international competitiveness of the equipment manufacturing industry and uses SPSS software to do the factor analysis of the international competitiveness indicators of Liaoning’s equipment manufacturing industry and gets the result of Liaoning’s equipment manufacturing industry’s international competitiveness. Lastly, it analyzes the factors influencing the international competitiveness of Liaoning’s equipment manufacturing industry and puts forward countermeasures to improve the international competitiveness of Liaoning’s equipment manufacturing industry from multiple perspectives.