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This paper aims to quantify and assess the reliability of mast structures as a part of ensuring structure safety. The mast structure is a basic aspect of the overhead line electrification equipment (OHLE) used in railway systems. This structure is very important as the failure of structure leads to the failure of an electric system that supplies the power to the train. To ensure structural safety and reliability, this paper thus analyses the reliability index of the mast, stay tube, and bracket tube structures. According to Eurocode, buckling resistance under compression of these parts were calculated based on specific material properties, and the load condition of these structures is based on Australian Railcorp document TMC331. In this paper, the strength load combination with the wind loading on the wire at 45° on the track is considered in particular as being the worst load combination for structures to bear, and the random variables used to affect reliability probabilistic analysis. Various parameters including self-weight, wind load, dimension parameters, materials, geometrical properties are taken into consideration. Statistical models of these parameters are taken from previous studies. The reliability index value was calculated via quantification of structure reliability using the first-order reliability method (FORM). Finally, a sensitivity analysis is used to evaluate the impacts of yield strength, length, cross-section, density, and load combination on reliability. The obtained results show that increasing length of structure can potentially reduce the reliability of mast structure to buckling resistance while the density of material also plays a major role in the reliability index. The findings will provide the structural safety criteria of the railway mast structure and improve the standard design to mitigate the risks and unplanned maintenance due to the uncertainties.