Pros
The 4/10 work schedule if you are on it. It rough at first getting used to, but it's so worth it in exchange for having Fridays off. Benefits aren't half bad. Short of a few specific things, it's pretty difficult to get fired. However if you are an hourly employee you have it made. Plus, how many people can say they build missiles for a living?
Cons
Just as any company in the defense industry, you are pretty much at the mercy of our government and their budgets. Advancement following a technical career path is very limited and difficult. Going up the company ladder under the management umbrella is much easier near limitless. Oddly, you can be leader and have people who are a higher labor working for you. Despite the huge amount of training classes available, very few of them are actually offered.