The assurance of functional safety in complex, software-intensive systems is a critical challenge across numerous industries. This paper examines the integration of MBSA within Functional safety standards, with a specific focus on the aerospace domain through SAE Aerospace Recommended Practice (ARP) 4761A. ARP4761A is notable for being one of the first comprehensive industry standards to incorporate detailed MBSA guidance formally. This paper analyzes this MBSA methodology, extracting its core process steps, modeling elements (like the Failure Propagation Model - FPM), and algorithmic output generation methods. Furthermore, the paper explores the requirements for the support of computational tools, focusing on the capabilities of model verification techniques to verify safety properties and compute safety metrics within the MBSA framework. A comparative overview of selected MBSA tools and ecosystems against these derived requirements is also presented. The insights aim to contribute to a broader understanding of MBSA application within standardized functional safety practices, using aerospace as a leading example.