This paper highlights the significance of safety and reliability in modern industries, particularly in sectors like petroleum and LNG, where safety valves play a critical role in ensuring system safety under extreme conditions. To enhance the reliability of these valves, this study aims to develop a deep learning-based prognostics and health management (PHM) model. Past empirical methods have limitations, driving the need for data-driven prediction models. The proposed model monitors safety valve performance, detects anomalies in real time, and prevents accidents caused by system failures. The research focuses on collecting sensor data, analyzing trends for lifespan prediction and normal operation, and integrating data for anomaly detection. This study compares related research and existing models, presents detailed results, and discusses future research directions. Ultimately, this research contributes to the safe operation and anomaly detection of pilot-operated cryogenic safety valves in industrial settings.