Magellan Aerospace Corporation [TSX:MAL](MALJF) is a Canadian based producer of a variety of aerospace related items. The company is relatively small for the industry it competes in, with under a billion dollar market capitalization. They are diversified within the industry, selling components for both engines and structures, as well as offering repair and overhaul services for a variety of aircraft engines, including for small aircraft. That provides the company diversification benefits, but also pulls them further from the commercial aircraft super cycle that is going on in large jets produced by Boeing (