The CFD coupled aeroelastic analyses have significant advantages over linear panel methods in their accuracy and usefulness for the simulation of actual aeroelastic motion after specific initial disturbance. However, in spite of their advantages, a heavy computation time is required. In this paper, a method is discussed to save a computational cost in the time domain aeroelastic analysis based on the system identification technique. The coefficients of system identification model are fit to the computed time response obtained from a previously developed aeroelastic analysis code. Because the non-dimensionalized data is only used to construct the model structure, the resulting model of the unsteady CFD solution is independent of dynamic pressure and this independency makes it possible to find the flutter dynamic pressure without the unsteady aerodynamic computaton. To confirm the accuracy of the system identification methodology, the system model responses are compared with those of the CFD coupled aeroelastic analysis at the same dynamic pressure.