With the continuous progress and growth of science and technology, high-end equipment manufacturing (HEM) has also ushered in a new era. Therefore, how to realize the transformation of HEM industry to intelligent and high-tech is an urgent problem to be solved. It is necessary to analyze the current problems and propose solutions and strategies to improve the company’s core competitiveness, Based on the combination of data mining and technology selection, this paper studies the growth and innovation mode of HEM industry. Firstly, this paper introduces the concept and basic characteristics of HEM innovation, and then studies the application of data mining technology in HEM innovation. Finally, the performance of the data mining technology is tested. The test results show that the data mining technology is very fast in processing data and analyzing innovation needs, and the accuracy of technology selection is also high.