Constant rise in industrial usage of robots for commercial applications has led to the need for rapid, efficient, and reliable robotic system development processes. Integration of tools from various disciplines to perform design space exploration,taking into consideration the stakeholder and system requirements, is one major step in regards to this. In this thesis, we apply Model-Based Systems Engineering (MBSE) principles to a simple pick and place task. We do this by integrating Cameo Systems Modeling Language (SysML) tool, CoppeliaSim robot simulator, and Gurobi Optimizer to facilitate and accelerate the design process for a robot grasping system. A simulation based Verification & Validation approach supports design space exploration to obtain optimal design solutions, thereby leading to successful and profitable deployment and operation.