Due to the fact that the vibration signal can reflect the fault information of rotating machinery in time and frequency domains, and in view of the difficulty found in the traditional test system to take into account the high-speed real-time acquisition and large amount of computation processing of vibration signals, a rotating machinery fault vibration test system has been designed based on the producer-consumer mode. In the system, the vibration signal acquisition process and processing process are composed of data production module and data consumption module respectively, so that the data can be decoupled and shared efficiently at different iteration rates in the two modules. By using the software LabVIEW, combined with high-speed acquisition card NI6351, vibration sensor and other hardware, a fault diagnosis platform has thus been built for the simulated helicopter transmission system. The high-speed real-time sampling of vibration signal at 14 channel 100 kHz sampling rate can be realized in the production module, meanwhile, the real-time processing of data can be realized by using FFT amplitude spectrum and Hilbert envelope spectrum in the consumption module, thus obtaining the accurate fault characteristics, as well as realizing the real-time and accurate fault diagnosis of simulated helicopter transmission system.