The efficiency of reproducing the innovative potential of the enterprises of the Russian aerospace industry is limited by a number of factors, including the imperfection of administrative tools. A paradigm shift in the management of reproduction processes at enterprises of the aerospace industry promoted a change of focus of state interests towards primarily commercial conversion objects created on innovative platforms of a new technological level satisfying the demands of foreign markets. Evidently, the imperatives will reflect the changes in methods and instruments of managing the regulations and processes of forming, distributing and using the set of resources and means for ensuring the necessary contents and quality of innovative capacity of enterprises of the aerospace industry. The working model of state support of innovative activity is progressively transformed into modern interpretations of the relations between the state budget and own and private sources. In this regard, it is evident that changes should be made to the functioning of the management mechanism and tools for reproducing the innovative potential of a branch. We have refined the concept of innovative capacity of enterprises of the aerospace industry and considered the methodological approaches to constructing and using monitoring as an instrument of targeted impact on the process of reproducing the innovative capacity of enterprises of the aerospace industry at the stage of operational and strategic management. The methodological design of monitoring is based on the provisions of theories of systems, processes and information and is constructed according to the principles of systematicity, goal-setting and effectiveness. A distinctive feature of the methodological approach we have offered is that the monitoring system includes indicators based on the operational, current and planned information, established and observed regulations and evaluation of the results of creation and implementation of innovations, both in the production of the aggregate output and the reproduction of the innovative potential of enterprises in the aerospace industry. With the objective reduction of the dominant role of state support, the systematic transition to a continuous process managed at the corporate level is a powerful basis for sustainable reproduction of the innovation potential and, respectively, the renewal of the life cycle of the economic entity in the reproduction of innovations. The offered monitoring technique is universal as it can be applied both to management of local innovative cycles and their set as a part of organizational structures of various levels of reproduction.