The estimation of aeroengine component deviation parameters (CDP) is an important portion of aeronautical propulsion system performance-seeking control (PSC), which employs linear Kalman filter based on piecewise state variable model (SVM) traditionally. But it’s not easy to get SVM, and the process of linearizing the nonlinear model to get the SVM will introduce errors. So parameters nonlinear estimation was introduced based on the nonlinear aeroengine model directly. The nonlinear estimation model is established according to aeroengine operation balance and the measured and calculated values matching of measurable parameters. The nonlinear estimation was changed to a problem of solving complex nonlinear equations, which is equal to an optimization problem. Time-varying inertia weight particle swarm optimization (PSO) with constriction factor was employed to solve the problem in order to satisfy the requirement of precision and calculation speed. The simulation results of a given turbofan engine show that utilizing the improved PSO algorithm can estimate the CPD precisely with satisfied converging speed.