In order to cope with the growing complexity of critical real-time embedded systems, systems engineering has adopted a component-based design technique driven by requirements. Yet, such an approach raises several issues since it does not explicitly prescribe how system requirements can be decomposed on components nor how components contribute to the satisfaction of requirements. The envisioned solution is to design, with respect to each requirement and for each involved component, an abstract specification, tractable at each design step, that models how the component is concerned by the satisfaction of the requirement and that can be further refined toward a correct implementation. In this paper, we consider such specifications in the form of contracts. A contract for a component consists in a pair (assumption, guarantee) where the assumption models an abstract behavior of the component's environment and the guarantee models an abstract behavior of the component given that the environment behaves according to the assumption. Therefore, contracts are a valuable asset for the correct design of systems, but also for mapping and tracing requirements to components, for tracing the evolution of requirements during design and, most importantly, for compositional verification of requirements. The aim of this paper is to introduce contract-based reasoning for the design of critical real-time systems made of reactive components modeled with UML and/or SysML. We propose an extension of UML and SysML languages with a syntax and semantics for contracts and the refinement relations that they must satisfy. The semantics of components and contracts is formalized by a variant of timed input/output automata on top of which we build a formal contract-based theory. We prove that the contract-based theory is sound and can be applied for a relatively large class of SysML system models. Finally, we show on a case study extracted from the automated transfer vehicle (http://www.esa.int/ATV) that our contract-based theory allows to verify requirement satisfaction for previously intractable models.