Compared with the conventional ground rocket launching, air-launching has many advantages. However, a comprehensive and integrated system design approach is required because the physical geometry of air launch vehicle is quite dependent on the installation limitation of the mother plane. The system design has been performed using two different approaches: the sequential optimization and the multidisciplinary feasible(MDF) optimization method. Analysis modules include mission analysis, staging, propulsion analysis, configuration, weight analysis, aerodynamics analysis and trajectory analysis. MDF optimization shows better results than the sequential optimization. As a result of system optimization, a supersonic air launching rocket with total mass of 1244.91kg, total length of 6.36m, outer diameter of 0.60m and the payload mass of 7.5kg has been successfully designed.