Static and dynamic aeroelastic analyses have been performed for the Ares I crew launch vehicle during atmospheric ascent. It is shown that, through the transonic speed range, there is a rapid change in the static aeroelastic center-of-pressure increment with increasing Mach number. The greatest sensitivity to grid resolution is observed through the transonic range. Dynamic aeroelastic analyses are also performed to assess the aeroelastic stability of the launch vehicle. Flexible dynamic linearized quasi-steady analyses using steady rigid line loads are compared with fully coupled aeroelastic time-marching computational fluid dynamic analyses. There are significant differences between the methods through the transonic Mach number range. The largest difference is at Mach 1. At that Mach number, the linearized quasi-steady method produces strong damping in modes 1 and 2. The unsteady computational aeroelastic method indicates that the first mode is significantly undamped, while mode 2 is strongly damped. The cause of the disparity in damping between modes 1 and 2 is also investigated. A vehicle with no protuberances other than rings produced damping values in modes 1 and 2 that were nearly identical. It is shown that the disparity in damping of modes one and two is due to asymmetric placement of protuberances around the vehicle circumference.