The present study aims at investigating the thermal and aerodynamic performance of a Magneto-rheological (MR) braking system, which could be an effective substitute for conventional friction-based braking systems, often limited by wear and temperature issues under high-load operating conditions. The aerodynamic and thermal aspects of the magneto-rheological brake system have been studied with regard to the existing baseline system. To study the cooling efficiency under conservative and high-stress operating conditions, transient CFD simulations were carried out using ANSYS Fluent, considering factors like rotating wheels, moving ground effects, and increased isothermal temperatures on the braking system. An evaluation of different turbulence models, including k-epsilon, k-omega, and SST k-omega were carried out to assess their effectiveness in predicting external aerodynamic performance and heat transfer characteristics.