More than 5,000 new aerospace jobs flooded Southern California in the past three years, exceeding forecasts and bringing back to life an industry that was decimated by the loss of Cold War funding in the 1990s.

Much of the growth took place in South Bay and Westside communities, according to the analysis released Monday by the Los Angeles Economic Development Corp.

The Boeing Co. is building satellites in El Segundo, SpaceX is revolutionizing space travel in Hawthorne, and Northrop Grumman Corp. in Redondo Beach is now finishing construction of what will be the world’s most powerful space telescope — Hubble’s successor, James Webb — that can peer into the past 13.5 billion years.

“The aerospace industry is incredibly important for California as a whole, and certainly to the people of my district,” said Assemblyman Al Muratsuchi, D-Torrance, chairman for the Assembly Select Committee on Aerospace. “California is competitive, the industry provides well-paying jobs, and we need to remember that as we focus on ways to maintain a strong economy that delivers prosperity to our people.”

In 2016, more than 90,000 people were directly employed by aerospace companies in Southern California, compared to 85,500 in 2014. But an additional 268,100 jobs were supported by the industry last year, an increase of 22,330 from 2014.

The increase represents a 62 percent jump since 2004, the LAEDC analysis said.

High wages

Not only are there more jobs, but they’re high-paying positions. Aerospace workers earn $106,200 on average, compared to the average wage in the region of $56,600.

Wages among workers that produce space vehicles, parts and guided missiles have climbed 24 percent since 2004, while those working in instrumentation have seen their pay increase by 7 percent.

Southern California has a “deep ecosystem” of highly skilled talent, the report said, including thousands of suppliers, specialized service providers and a legacy of engineering and R&D prowess — factors that are further bolstered by the region’s culture of innovation, risk-taking and entrepreneurship.

Nearly one-quarter of the nation’s jobs making guided missiles, space vehicles and parts are based in Southern California, according to the survey.

High-profile innovation

Southern California also has played important roles in Mars landings, the space shuttle program, and the B-2 stealth bomber.

What’s more, Global Positioning System satellites used for navigation are managed in El Segundo at the Los Angeles Air Force Base’s Space and Missile Systems Center.

SpaceX also is growing quickly, and now has 7,000 employees compared to 4,000 in 2015.

The company is developing a fleet of reusable rockets to further reduce the cost of space travel, and has set off a commercial space boom.

“We see an opportunity for Southern California to strengthen its historical leadership in aerospace by competing aggressively to be the world’s center for the fast-emerging, consumer-facing industries that will help drive the industry to new heights,” said Judy Kruger, director of aerospace industry cluster development at LAEDC.

“But this will require a mega regional effort, combining industry, government, education and economic development, as every economic region around the globe is competing for these same firms, entrepreneurs and talent.”