An integrated gas turbine engine, electrical power subsystem and thermal management subsystem for aerospace application includes a first motor/generator coupled to a low pressure (LP) shaft of the gas turbine engine, a second motor/generator coupled to a high pressure (HP) shaft of the gas turbine engine, and a system controller coupled to each of the gas turbine engine, a first motor generator and a second motor/generator, wherein the controller receives engine thrust demand and electrical power demand and is programmed to determine total system power demand and the amount of power sharing between the first motor/generator and the second motor/generator to meet thrust and electrical power demand.