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The Aerospace and Automotive industries face increasing product complexity and shortening of product development cycles. One critical means companies in these industries strive to directly overcome these challenges is through modeling and simulation. Beginning at the earliest phases in the new product development process, companies derive additional value through increased deployment of simulation across the entire product life-cycle. This paper discusses three areas: 1) the business case for change; 2) technology enablement of the various types of model-based simulators; 3) institutional mobilization to move to a new enterprise state that embraces new ways of working and engaging with existing and prospective customers. The business case for change focuses on two main points in acquisition: developing a detailed understanding of the system needs and systematically working through the techno-economic estimation challenges.