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This paper presents a novel integration of Systems Engineering (SE) methodologies and Industry 4.0 (I4.0) technologies in the design of robotic systems, focusing on enhancing underwater robotic missions. Using the conceptual design of an underwater exploration vehicle as a case study, we demonstrate how SE can systematically incorporate I4.0 tools to improve mission performance and meet stakeholder expectations. The study begins with an overview of the SE approach, emphasizing the conceptual design stage and aligning it with the application and case study of design theories. We then explore various I4.0 technologies, highlighting their functional benefits rather than technical specifics and addressing design methods for I4.0. Remotely Operated Vehicles (ROVs) are examined in terms of classification, components, and tasks, showcasing their evolution driven by technological advancements, thus tackling the complexity and design of complex systems. The core of our study involves defining stakeholder expectations, using quality function deployment for requirements definition, and performing a functional and logical decomposition of the ROV system. To deal with design fixation within the design team, we developed a tool to help integrate new technologies by also empathizing with their functional capabilities rather than the technology itself. Our approach underscores the importance of understanding and incorporating new technologies functionally, aligning with the transition towards Industry/Society 5.0. This work not only illustrates the synergy between SE and I4.0, but also offers a structured methodology for advancing the design and functionality of complex systems, setting a blueprint for future developments in this field. [ABSTRACT FROM AUTHOR]