NASA and other government agencies consider aeroelasticity of aircraft structures in the design process of flight vehicles, for maintaining optimal performance, while ensuring freedom from aeroelastic and aeroservoelastic instabilities. The traditional approach has been to build stiff structures for suppressing aeroelastic effects. Advances in computational technology have enabled a careful analysis of aeroelastic effects, and design of lightweight structures. However, a direct coupling of Computational Fluid Dynamics with Computational Structural Dynamics (CFD-CSD) is still too expensive to be used for control simulations and design. To address this issue, IAI is developing reduced order models (ROMs) to capture the necessary physics, while enabling much more efficient computation. The Reduced Order Modeling for Aeroservoelastic Control and Analysis (RACA) approach will systematically study ROM technology and develop the appropriate methods for a particular application of interest – supersonic low-boom aircraft. IAI will develop a full-fledged aeroelastic analysis framework as well, to provide simulation-based verification results. The ROMs developed will then be used for control system design and demonstration of adaptive control technologies for advanced flexible aircraft. RACA will be useful to NASA's aeroelastic research, through programs including Active Aeroelastic Wing (AAW), X-56A Multi-Utility Technology Testbed (MUTT), and the Aeroservoelasticity (ASE) project in the High Speed Program. NASA programs focused on lightweight aircraft configurations can also use RACA for design and control simulation. RACA will help organizations like the Air Force Research Lab (AFRL) to investigate aeroelastic concepts, and aircraft manufacturers to rapidly analyze concepts across the entire flight envelope, and to design and reliably develop associated controllers for advanced aircraft. Further, the aeroelastic analysis capability can be integrated in design frameworks for flexible aircraft design, and to investigate the aeroelastic properties of the low-boom supersonic demonstrator.