Assembly deformation is one of the most important factors in the aircraft thin-walled parts’ riveting, which determines the plane’s fatigue life and assembly quality. Firstly, A new type of automatic drilling & riveting system used for aircraft’s panel component riveting was studied and designed based on function modular theory. It includes system designing, modeling and assembling by using PRO/E software. Then, Rivet’s stressed deformation was analyzed through finite element analysis. It also explored the law of riveting force which changed the whole process of automatic drilling & riveting, and it can be used as a proposal to improve the riveting quality.