This article presents an experimental setup for parameter identification and control algorithm design for a guided projectile placed inside a wind tunnel. A detailed description of the hardware contained in the projectile such as the actuators, sensors and the embedded computer is given. The associated software environment, namely a custom realtime Linux distribution, the associated application framework and interface to MATLAB/Simulink, is also analyzed. Finally, results concerning the identification of the projectile pitch axis dynamics using the proposed setup are presented.