A new method, based on singular value decomposition and QR factorization, has been developed and applied to the analysis of F-18 flutter flight test data. The method is capable of identifying the frequency and damping of the critical aircraft modes, those responsible for the flutter phenomenon. The procedure relies on the capability of singular value decomposition for the analysis, modeling, and prediction of data series with periodic features and also on its power to identify matrix rank. The analysis of simulated and real flutter flight test data demonstrates the effectiveness, robustness, noise-immunity, and the capability for automation of the method proposed under specific conditions.