The development of the aerospace industry nowadays is focused on continuous monitoring of equipment. The outputs of the monitoring algorithms can be used for planning the maintenance with respect to operative modes and conditions. In such systems, the device that monitors particularly the engine is usually referred to as the Engine Monitoring Module (EMM). The Model Based Design (MBD) approach and its application on the development process of EMM are described. Using this approach a dramatic development time saving is acquired. Monitoring algorithms are implemented in Matlab/Simulink environment and the final software is a combination of hand-written and automatically generated C code. Keywords: FADEC, engine monitoring, MBD, Matlab, Simulink, code generation.