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Based on power adding technology, the linear transformer driver (LTD) scheme is widely used to generate high-energy pulsed outputs and adopts a hierarchical and modular structure. Although robust design and fault analysis for basic components have been conducted recently, there is still a lack of enough reliability analysis studies of the whole system. Taking an actual LTD system as an object, this paper presents a system reliability model based on a load-sharing mechanism. A unified load-sharing rule structure is established and four typical rules corresponding to equal, linear, exponential, and local-equal relationships are discussed in detail while evaluating the impact of the load-sharing mechanism. Subsequently, simulation experiments are performed to illustrate the effects of different load-sharing rules as well as analyzing the system reliability in which we simultaneously propose a self-adaptive Monte Carlo simulation flow to achieve the sampling probability adjustment according to the random failure sequence. The simulation results can serve as a suggestion for further improvement of the system reliability. Moreover, the model framework and the simulation analysis method described here are universal and can be applied to evaluate the reliability of other LTD-based systems with tiny modifications.