The global division of labor is in constant change as countries dynamically acquire new technological capabilities. Many Asian countries that were relatively latecomers in industries such as semiconductors, electronics, pharmaceuticals or automobiles have become globally competitive producers. Their growth trajectories, industrial and innovation policies have been at the center of scholarly attention (Amsden 1989, 2001; Fagerberg 2000; Hobday 1995, 2003; Kim 1980, 1997, 1998; Kim and Nelson 2000; Lee and von Tunzelmann 2005; Mathews 2002; Westphal 2002). The accelerated growth in high-tech industries and their effects on economic and social development in these countries offered interesting cases for revisiting old debates on industrial as well as science and technology or higher education policies. In this context, it is surprising how little similar systematic work has been done on the aerospace industry, despite the fact that hardly any other sector offers as much scope for policy debate as aerospace.