A retractable rotor system for an aircraft includes a rotor blade with a leading edge, a trailing edge, and an internal collapsible web. The leading edge includes a flexible portion whose lower edge contacts but is not structurally joined to the lower skin. When the leading edge is peeled forward from the lower skin, the blade elastically collapses to the thickness of its constituent layers. The rotor blade extends through a support frame connectable to the aircraft to secure the rotor blade to a spool. Rotating the spool retracts the rotor blade through the support frame while pulling the rotor blade over a fixed actuating member, placing the rotor blade in the collapsed condition and winding the rotor blade onto the spool. Rotating the spool in the opposite direction unwinds the rotor blade from the spool, through the frame, causing the rotor blade to relax into the expanded condition.