Pros
Diverse products allowing pursuit of different careers. Many national and international sites giving opportunities to move. Strong focus on high tech products - jet engines and flight guidance/management systems - military and commercial products. There are reasonable training opportunities and a reasonable support for initiatives such as Six Sigma and Lean. If you take the initiative and know what you are doing, build consensus and get the right level of support it is possible to move the needle on things you initiate/believe in - and not just follow Leadership initiatives. There us a huge gap in the demographics - lots of 20+ year folk, many younger people but few "middle managers" in the 10 -15 year range - so opportunnities will be growing as teh old guard retires.
Cons
It's a big corporation and the better you are at your job the more work you get. Slackers get to cruise. Cost of benefits far outstripping salaries. No respect for company service - they will cram someone with 10, 15, 20 years service in the same cubicle as someone who just joined the company - usually both of them in the same cubicle. Corporate policies are followed only when convenient - rules say you fly business class if a flight is over 8 hours, bosses say "fly in the back". Of course this only applies if you don' fly on one of the many corporate jets that the "leaders" fly around in.