A survey on the evolution of modeling and simulation (M&S) technologies related to multiphysics systems is presented. The concept of a context space for M&S is defined in terms of coexisting fields, domains of interaction, length scales, and computational technologies. Past and present efforts comprising this context space are described as well as their relationship to product development [i.e., efforts of ASME’s Computer and Information in Engineering (CIE) division]. A retrospective of general procedures for developing multifield and multidomain formulations is elucidated for the case fluid-structure interaction pertaining to linear and nonlinear aeroelasticity and aerothermoelasticity as they mostly relate to aerospace applications. Multiscale methodologies and computational technologies associated with M&S generation follow. The evolution of computational and information technologies are also described as they relate to multiphysics M&S. Future potential trends associated with all of these areas conclude this work.