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NEW YORK ( TheStreet) -- With the markets up one day and down the next, investors need to stick with themes that will work for the long term, Jim Cramer told "Mad Money" viewers Wednesday as he highlighted perhaps the one industry that has no natural enemies -- aerospace. Unlike many companies that have a hard time predicting what their next quarter will look like, Cramer said that companies like Boeing ( BA) have not only multi-year forecasts, but multi-decade forecasts. He said the aerospace group is in a long-term secular growth mode thanks to a number of forces pulling in their favor. First is progress, said Cramer. While innovation may be dead in the personal computer space, in aerospace new materials, new technologies and manufacturing are driving new designs for just about every part in modern airliners. Second, the price of jet fuel has risen to a point where airlines can't afford not to upgrade to the latest, most fuel efficient planes. Then there are competitive pressures, said Cramer. With so many new creature comforts like better seats, wider aisles, better lighting and more entertainment options, airlines once again just can't compete without ordering newer planes. Finally, Cramer noted that nothing lasts forever, which is why older planes must be replaced eventually. For all these reasons, the new aerospace cycle is on fire, said Cramer, and companies like United Technologies ( UTX), Honeywell ( HON), Precision Castparts ( PCP) and BEA Aerospace ( BEAV) are all great investments on any weakness.
Invest in America: BoeingFor his "Invest in America" series, Cramer continued with his focus on aerospace and sat down with Jim McNerney, chairman, president and CEO of Boeing, a company that plans on continuing its legacy of being the world's aerospace leader. McNerney start off by saying Boeing has a great impact on the American economy as it creates tens of thousands of jobs and is a huge exporter around the globe. He said while the company's defense business does have restrictions, there are only a few countries around the globe where you can't buy a Boeing plane.
When asked about the company's 20-year plans, McNerney said in his industry you need to look that far into the future, especially given that Boeing's current backlog for its 787 Dreamliner now extends well into 2019. He said that the technology cycles that Boeing operates with demand having bold looks into the future. Turning to the 787's recent batteries issues and grounding, McNerney said he was never worried that the problems wouldn't be fixed, and immediately went to work deflecting media attention and supporting his people so they could get to work and get the job done. He said the full promise of the 787 was not affected by the battery problems and, in fact, Boeing's 777 program had more issues than the 787 has had so far. Finally, when asked about Boeing's tough stance towards its suppliers, McNerney made it clear that Boeing is and will continue to be the world's leader in aerospace, and its suppliers are wise not to bet against the company.