Abstract This article is a contribution to the INCOSE initiative for model‐based engineering transformation. Its material has been presented at the ALSEE tour event in Oslo in September 2016. The ideas developed here come from the practical and theoretical experience of the authors in both industrial and academic frameworks. We organize the discussion around 6 theses that aim at establishing robust conceptual foundations for the model‐based engineering transformation. We focus on model‐based systems engineering, model‐based safety assessment, and the relationship between these 2 disciplines. We report on active research initiatives that implement these 6 theses via the S2ML+X paradigm. We conclude with suggestions about future research and teaching activities.