During the Cold War, 15 of the 25 biggest aircraft companies in the U.S. were based in Southern California. Today, they have mostly closed their doors, merged with rivals or moved their headquarters away.

In 1990, in Orange County alone, more than 42,000 people manufactured planes, rockets, satellites or parts of them. Now, the official number is about 15,000, although that doesn't include many related jobs.

Alfredo Galvez, hand finisher, sands and smoothes a metal part at Coast Composites. The Santa Ana company is a leader in making molds for airplane parts, both military and civilian. The company has hired 80 new workers in the last two years.

CINDY YAMANAKA, ORANGE COUNTY REGISTER

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"In Orange County, as in the rest of the aerospace and defense industry, we are in a down cycle," said Daryl Pelc, vice president of engineering and technology for Boeing's Phantom Works, which develops advanced military technology. "But we are very excited about the pending upcycle."

Click here to watch a video of one of the companies in Orange County.

If the giant factories that once pumped out warplanes have mostly disappeared, however, a vibrant aerospace economy is nonetheless powering new businesses in the region. In defense, companies see opportunities in cybersecurity, drone manufacturing and exports to foreign militaries. A boom in commercial aircraft orders is creating work for hundreds of local suppliers.

Despite recent layoffs, looming defense cuts and technical problems with its new commercial Dreamliner 787, Boeing is celebrating a record year. The company delivered 601 commercial airplanes last year, the most since 1999, and surpassed Airbus as the world's No. 1 passenger jet maker. Boeing orders stood at 4,373, the most in company history.

Many local suppliers are talking upcycle, too. Coast Composites, a high-tech toolmaker in Santa Ana, has boosted its workforce from 170 to more than 300 in less than three years as it ramps up its carbon-fiber mold business.

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Aerospace adapts to survive in O.C.