In industrial and utility electrical systems built in the 1940's and 1950's, many components are at or beyond their expected service life. This is particularly serious in the case of power distribution equipment; failure comes without warning and often causes extensive damage to connected systems and other electrical equipment. Three alternatives for upgrading old equipment are discussed. Retrofitting with vacuum arc interrupter technology is the most cost effective and offers many advantages over older air-magnetic interrupters. These include simpler design, less parts and maintenance, readily available parts, high reliability, extended insulation life, and safety. This paper will address modernization options available to industry specifically in the area of electrical switchgear. Emphasis will be given to switchgear life extension using vacuum technology, its benefits, reliability, and economic justification. Several examples and applications will be presented.