As contracts move from cost plus to fixed deliverables, total project cost and reducing schedules become more important. This paper will show how Model Driven Development can address common challenges in the system design, verification & testing of complex systems and systems of systems. Project success requires that hardware, software, and test teams fluently integrate application software, controlling firmware, analog and digital hardware, and mechanical components, which often proves to be costly in terms of time, money, and engineering resources. Model Driven Development and virtual prototyping using a tools flow emphasizing requirements tracing, UML / SysML system modeling, and linking to functional FPGA, IC, PCB and cabling domains supports system engineering teams along with software, digital hardware, analog hardware, system interconnect algorithm development, hardware / software co-simulation, and virtual system integration. This paper covers such solutions that reduce project schedule while improving product release quality.