The transportation sector is undergoing electrification to gain advantages such as lighter weight, improved reliability, and enhanced efficiency. As contributors to the safety of embedded critical functions in electrified systems, better sizing of electric machines in vehicles is required to reduce the cost, volume, and weight. Although the designs of machines are widely investigated, existing studies are mostly complicated and application-specific. To satisfy the multi-level design requirements of power systems, this study aims to develop an efficient modeling method of electric machines with a background of aircraft applications. A variable-speed variable-frequency (VSVF) electrically excited synchronous generator is selected as a case study to illustrate the modular multi-physics modeling process, in which weight and power loss are the major optimization goals. In addition, multi-disciplinary design optimization (MDO) methods are introduced to facilitate the optimal variable selection and simplified model establishment, which can be used for the system-level overall design. Several cases with industrial data are analyzed to demonstrate the effectiveness and superior performance of the modeling method. The results show that the proposed practices provide designers with accurate, fast, and systematic means to develop models for the efficient design of aircraft power systems.