High-technology clusters have attracted the attention of researchers and policy-makers but studies have focused primarily on the computer, electronics and biotechnology industries; aerospace has attracted less attention. An example of a high-technology cluster based on aerospace is to be found in the East Midlands region of the UK. This paper analyses this cluster. The analysis focuses on the structure of the cluster and the implications of this structure for cluster dynamics. The impact of factors such as corporate strategy, industry evolution and technological trajectories on cluster development are analysed. Finally, the implications of cluster structure for economic development policy in the region are evaluated.