A component monitoring system structured to monitor circuit breaker assembly operating mechanism component characteristics is provided. The component monitoring system includes a record assembly, at least one sensor assembly and a comparison assembly. The record assembly includes selected nominal data for a selected circuit breaker component. The least one sensor assembly is structured to measure a number of actual component characteristics of a selected circuit breaker component and to transmit actual component characteristic output data. The comparison assembly is structured to compare the sensor assembly actual component characteristic output data to the selected nominal data and to provide an indication of whether the sensor assembly output data is acceptable when compared to the selected nominal data. The at least one sensor assembly is in electronic communication with the comparison assembly.