Pros
Great place to work right out of college or early on in your career, especially if you want to work in the Aerospace Industry, a lot of opportunity to network with other, larger Aerospace companies. The company is small enough that you feel like you are part of a family, great co-workers. There are a lot of brilliant people that work there, from whom you can learn a lot and build your skills. Vacation time is better than most local companies.
Cons
For non-technical positions, the salary is not competitive at all, they place all their value on technical skills (engineers) and do not value non-technical skills much (business positions such as finance, accounting, HR, project management, purchasing, etc. ). You will need to be comfortable with a lot of stress and high-pressure, will never be a 40-hour-a-week job, they will push you to your fullest potential (which can be seen as a positive too). Because it is a small, local division, there is not much room for growth unless you don't mind moving out of state or overseas.