In order for industrial enterprises to achieve sustainable development goals and develop appropriate strategies, it is necessary to determine the quantitative measurability of sustainability, which is the purpose of the paper. On the basis of the previously developed methodology of economic analysis of technological renewal of production, the method of ballistic assessment is proposed to measure the level of sustainability of technological development of industrial enterprises. This allows us to assess the level of sustainability or unsustainability of any industrial enterprises in any retrospective period of time and compare them with each other and determine the target levels of sustainability in the process of strategic planning and management of production development. The proposed method of assessing the level of sustainability has been tested on the reporting data of twelve Russian machine-building enterprises operating in four industries: aviation, automotive, railway, and shipbuilding. In order to increase the level of sustainability in the future, all industrial enterprises need to increase the growth rate of the coefficient of production technology level, but at the same time it is necessary to take into account the wave-like nature of the growth of its absolute values, which at the micro level confirms the theory of “long” waves by N.D. Kondratiev and the concept of change of technological modes by S.Y. Glazyev.