Some of the top universities to pursue an MS in aerospace engineering are Illinois Institute of Technology, University of Michigan Ann Arbor, Florida State University, San Diego State University, Arizona State University, Colorado State University, Boston University and the Embry-Riddle Aeronautical University. To answer the second part of your question, Yes, it is definitely a good industry to be in as the aircraft and spacecraft manufacturing and the aviation and space exploration industries are both growing at a fast pace.