The complexity of software development is increasing unprecedentedly with every next generation of aircraft systems. This requires to adopt new techniques of software design and verification that could optimize the time and cost of software development. At the same time these techniques need to ensure high quality of software design and safety compliance to regulatory guidelines like DO-178C and its supplements DO-330 and DO-331. To arrive at new technologies one has to evaluate the alternate methods available for software design by developing models, integration of models, auto-code generation, auto test generation and also the performance parameters like time, effort, reuse and presentability needs to be evaluated. We have made an attempt to present summary of alternate design concept study, and edge of MBD over other design techniques. The new techniques have challenges in managing the software development processes through conventional means and showing their compliance to stringent industry standards and guidelines. We have presented process compliance to aerospace software development guideline DO178C. In this paper we have presented a case study on usage of a model based tool and its tool set to generate requirements, software and its test results. This paper has discussed the requirements of DO-178C and its associated supplement DO-331 for model based software development and demonstrated means of compliance of the case study model. The requirements of DO-330 for tool qualification and its applicability to model-based software development and verification are also presented.