This paper describes the overall system design and performance characteristics of a complete PCM/FM telemetry system for aircraft and missile testing during flight test procedure. The system encompasses subsystems for airborne data acquisition and flight line check-out, a compatible ground telemetry system. The airborne part includes a variety of component for measurement all relevant aircraft parameters. The ground telemetry system receive signal from flying object, performs real time data processing, test control and a data processing system for post flight analysis. The system represents a fully integrated approach to flight test systems which addresses the end-to-end requirements from airborne data acquisition and real time flight monitoring through aircraft performance and stability/control analysis.