Complex aerospace systems require extensive simulation capabilities, but current practices rely on proprietary interfaces requiring manual integration effort that limits scalability and interoperability. This paper evaluates the Functional Mock-up Interface (FMI) 2.0 and System Structure & Parameterization (SSP) standards for legacy based aerospace components through practical implementation and industrial assessment. A two-layered wrapper architecture was developed where legacy components was successfully converted to FMI-compliant Functional Mock-Up Units (FMUs) while preserving original simulation logic. The implementation addresses complex data structure interoperability, type system mapping, and coordination for components operating at different frequencies. An evaluation using OMSimulator demonstrated successful FMU integration within SSP packages, though execution pattern mismatches revealed several tool limitations. Furthermore, workshops with aerospace engineers indicated FMI 2.0 and SSP could satisfy domain specific simulation requirements for cross-departmental exchange of models and moderate-complexity applications, while identifying performance overhead concerns for high-performance scenarios.