For many years Mexico has been looking for a strategy to create economic growth and industrial development. The results have been less than positive, however, and at times the public policy in regards to industrial development seems directionless. The Maquiladora Model is an example of a model of industrialization that did not create development and, on the contrary, generated important social problems, especially in the north border area of the country. These facts lead to questioning if Mexico is destined to offer only competitive advantages related to low labor costs and governmental benefits, such as special tax regimens or the construction of productive infrastructure with almost no cost for firms. Given this context, it is necessary to analyze whether or not the current Aerospace Industry is only taking advantage of the same competitive advantages that the Maquiladora Model did in the 90’s, or whether this represents a real opportunity to create economic and social development. This talk is oriented to show the structure of the aerospace industry in Mexico and the performance of the aerospace cluster located in the State of Querétaro.