The surging global demand for renewable energy has fueled the expansion of offshore wind energy, leveraging superior wind profiles and technological advancements in offshore wind turbine technology. Despite this growth, the operational experience of floating offshore wind turbines still needs to be improved as an emerging technology. Addressing this knowledge gap, our study compiles a comprehensive database of failure events associated with these turbines. Employing a rigorous analytical approach through the Fuzzy Failure Mode and Effect Analysis (FMEA) methodology, we conduct an in‐depth failure analysis of floating offshore wind turbines. This investigation allows us to identify the most critical failure modes and pinpoint components vulnerable to failures. The paper delves into the root causes of these significant failure modes, proposing preventive and corrective measures based on our findings. Our recommendations serve as a strategic guide for stakeholders, offering insights to enhance offshore wind turbines’ design, operation, and maintenance practices and the broader wind farm infrastructure. Despite this, further clarification on the application and highlights of the fuzzy FMEA model is warranted in the abstract, a point we address in the revised conclusion to enhance our study's overall clarity and completeness.