1. A method for determining balance shelf lives of industrial components, the method comprising: analyzing, by a hardware processor, a plurality of images of an industrial component to detect a plurality of defects in the industrial component, wherein the plurality of defects comprises one or more internal defects; determining, by the hardware processor, an overall shelf life impact of the plurality of defects based on at least one of a type of each of the plurality of defects, an extent of each of the plurality of defects with respect to the industrial component, an attribute of the industrial component, an attribute of a working component, or an operational usage of the industrial component; mapping, by the hardware processor, a set of the plurality of images of an internal structure of the industrial component with a three-dimensional model of the industrial component; determining, by the hardware processor, a shortest distance between an external surface of the industrial component and one of the internal defects closest to the external surface based on the mapping; determining, by the hardware processor, a weighted shelf life impact of the one of the internal defects based on one or more of the shortest distance, a material of the industrial component, a size of the industrial component, a hardness of the industrial component, a material of the working component, or a hardness of the working component; and dynamically determining, by the hardware processor, a balance shelf life of the industrial component based on an initial expected life of the industrial component, the determined weighted shelf life impact, and the overall impact of the plurality of defects on the shelf life of the industrial component.