Testability verification and FMEA analysis of equipment consider single faults and use sampling methods to determine fault samples traditionally, without considering the different failure modes of redundant modules and the coverage rate of faults. Aiming at the requirements and difficulties of testability verification for launch vehicle electronic equipment, including redundant function verification requirements and testing coverage requirement etc., the functional degradation FMEA analysis method and evaluation method of coverage rate of fault modes was proposed on the basis of the general testability verification method of equipment, and a testability verification and evaluation method suitable for the launch vehicle electronic equipment was formed. An electronic equipment on the launch vehicle was taken as an example for modeling. The results proved that the method proposed in this paper effectively identified the redundant faults, and incorporate the fault modes of redundant modules into the evaluation of testability indicators. The faults of redundant modules were considered in the evaluation of testability indicators, and the verification of redundant functions of launch vehicle electronic equipment was assessed. The proposed fault coverage evaluation method and sample size supplement method effectively improve the coverage of testability verification for fault modes. It is suitable for testability verification and evaluation of launch vehicle electronic equipment, and can be extended to the electrical system of launch vehicle.