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Unmanned Aircraft Systems (UAS) emerge as a viable, operational technology for potential civil and commercial applications in the National Airspace System (NAS). Although this new type of technology presents great potential, it also introduces a need for a thorough inquiry into its safety impact on the NAS. This study presents a systems-level approach to analyze the safety impact of introducing a new technology, such as UAS, into the NAS. Utilizing Safety Management Systems (SMS) principles and the existing regulatory structure, this paper outlines a methodology to determine a mandatory safety baseline for a specific area of interest regarding a new aviation technology, such as UAS Sense and Avoid. The proposed methodology is then employed to determine a baseline set of hazards and causal factors for the UAS Sense and Avoid problem domain and associated regulatory risk controls.