Queen Elizabeth aircraft carriers were one of many projects that were very late and way over budget. David Crossland/Alamy So what can interwar aircraft production tell us?

After World War II, Japan focused strictly on defense and needed fighter jets precisely for that. Its first fighter jet didn't come about until the '70s.

Geneseo, N.Y. — Dozens of World War Two aircraft took to the sky for the greatest show on turf. It was a huge turnout for day one of the two Geneseo Airshow.