The purpose of this study is to develop failure pressure evaluation models, which are applicable to straight pipes and elbows containing an internally wall thinning defect induced by flow-accelerated-corrosion (FAC). In this study, thus, three dimensional finite element (FE) analyses are performed to investigate the dependences of failure pressure of internally wall thinned pipe on the defect shape, the pipe geometry, and the defect location and bend radius of elbow. Also, the existing failure pressure assessment models for externally wall thinned pipes are examined. Based on these, the new models for assessing failure pressure of piping components with an internally wall thinning defect are proposed. Comparison of failure pressure, predicted by proposed models, with FE analysis result shows good agreement regardless of pipe type, defect shape, and defect location and bend radius.