Pros
Opportunities for young engineers to become integral to projects and gain very valuable experience (see more on this in cons). There is a little bit a talent vacuum. This can be a pain, but it also means there are good roles to be filled. Cool work. Lots of engineers will get to run component or engine tests which are neat. Pay seemed above average at least early in your career. I knew multiple people who had to take pay cuts when leaving, Bonus of usually 4-7% (but paid out over 5 years). Average-to-poor 401k, but there's a pension plan that makes up for it.
Cons
There are *opportunities* to become integral to projects and do cool stuff if you're competent and at least a little assertive. But I've seen a few people end up assigned to something terribly boring with no way out. Even when they made it clear that they weren't happy in their roles. Overly optimistic schedules. Have lost a lot of talent due to some draconian measures employed to try to meet schedules. Large amount of mandatory OT and things like that. They backed off on that last I checked. But I'd expect there's still a lack of expertise at the moment. Software practices are still catching up to meet modern software world. Agile methodology is just catching on. You might not gain experience with many modern tools. Openly conservative owner (maybe not a con for you). We hosted a Trump rally once. We got a Trump bonus when he cut taxes, which was basically a propaganda bonus. Not complaining, but I thought that was funny. Culture has gotten less relaxed over the last few years. Not much diversity, but that might just be the industry. I haven't encountered anything in the way of racial discrimination, though some of the blue-collar workers from the factory might be straight up qanon-folks. I've heard lots of complaints of sexism, but can't really speak to it myself.