Historically, the product development life cycle (spanning from origination of a systems concept to initial delivery or fielding) for large-scale aerospace systems is 10-25 years. Examples of recent programs exhibiting this timeline are the Space Shuttle (13 years), , International Space Station (18 years), NASA Hubble telescope (16 years), USAF F-35 Strike Fighter (22 years), Missile Defense Agency THAAD (21 years), USAF V-22 Osprey (26 years), USAF B-2 Spirt (19 years), US Army RAH-66 Comanche (22 years, cancelled prior to fielding), James Webb Space Telescope (25 years), Space Launch System (10 years). This list illustrates the challenges of developing and fielding a modern integrated multi-disciplinary aerospace system. These development timelines are often preceded by significant research and development programs and followed by multiple increments, blocks, or spirals to reach planned operational capability. In the modern era of aerospace system acquisition, there is significant pressure to reduce system development timelines to meet system objectives and enable competitiveness in the current industry and landscape. Across the aerospace industry, a range of rapid acquisition and prototyping programs are seeking to achieve system development within timelines considerably less than 10 years. Notably, in September of 2019, NASA issued a solicitation for the development and demonstration of a Human Landing System (HLS) to deliver humans to the lunar surface by 2024 (5 years) and for the development and demonstration of a more sustainable HLS by 2026 (7 years). Lengthy product development cycle timelines are a product of multiple factors ranging from programmatic, sociological, technical, and systems engineering issues. New approaches in systems engineering provide new ways to enable these compressed development timelines. These approaches employ expanded application of advanced systems engineering methods and cross-cutting digital tools to accelerate system development, utilizing digital prototyping to connect maturing sub-system or component technologies into system or system-of-systems hardware prototypes. Approaches such as the use of system integrating physics relationships to reduce the number of design analysis cycle iterations and state analysis modeling to reduce necessary software testing (and improving coverage of system execution scenarios) represent steps forward in reducing the engineering time needed to field new systems. In addition to cost, schedule and performance benefits, expanded digital exploration and demonstration reduce risk in live system test and demonstration. This incremental demonstration approach, where digital prototyping and demonstration leads and informs full system test and demonstration, could be more important for space applications because of the increased difficulty of test and demonstration of space systems and architectures. The Advanced Concepts Office (ACO) at Marshall Space Flight Center merges traditional multi-disciplinary concept definition methods with modern, cross-cutting systems engineering concepts to enable iterative design and analysis of space architectures and systems through coordinated, strategic management of human capital, technical processes, and technology. This paper provides an overview of that approach, including recent examples and a strategic path forward to enabling continued reduction of aerospace system product development life cycles.