Taking data from eight sub-industries of equipment manufacturing industry in Shaanxi province from 2012 to 2020 as samples, an evaluation index system of science and technology innovation capability in Shaanxi equipment manufacturing industry is constructed, to evaluate the innovation capability of each sub-industry by principal component analysis method and entropy method, and analyze their dynamic evolution trends combined with kernel density. The results show that the innovation capability of railway, shipbuilding, aerospace and other transportation equipment manufacturing industries is far ahead of other seven sub-industries in Shaanxi. The contribution of the two indexes, including R&D expenditure and Proportion of sales revenue from new products, is higher than other indexes, and the gap in the capability is expanding over time. Therefore, intelligent transformation in Shaanxi equipment manufacturing industry is an inevitable choice. It is necessary to strengthen investment in new equipment and technologies, focus on research and development of new products, effectively expand channels for obtaining funds, and give full of the driving effect of dominant industries to enhance the innovation capability in Shaanxi equipment manufacturing industry.