System and method for monitoring moving elements

A computer-implemented method for monitoring a moving element within a monitored system, the method comprising:

• periodically providing, by an illumination device, instantaneous light toward the moving element as the moving element moves relative to the monitored system;
• capturing, by an image sensor fixed with respect to the monitored system, a plurality of images of different portions of the moving element, at different times, during motion under illumination emitted by the illumination device;
• analyzing, by at least one processor, at least one of the captured images to determine whether at least one failure mode is present within the captured portion of the moving element;
• registering, by the at least one processor, the at least one image with at least one other image to obtain further information about the at least one failure mode;
• keeping track of monitored locations and determining whether all parts of the moving element have been captured and analyzed based on image registration;
• maintaining, in a memory, a registry indicating parts of the moving element monitored and a respective date and/or time;
• and
• providing output indicating whether the at least one failure mode is identified within the moving element.