Abstract <p>The contemporary development of the regional economy is characterized by the increasing role of high-tech industries capable of shaping the sustainable competitiveness of territories. One of the effective tools for increasing innovation activity and production efficiency is the cluster approach, based on the concentration of enterprises, scientific organizations, and infrastructure structures integrated by industry specialization and territorial proximity. The article examines the formation mechanisms of innovation and production clusters as well as their role in the sustainable development of regions considering the case of the Russian aviation industry. A comparative analysis of the leading aviation clusters has been carried out, and the institutional, organizational, financial, economic, technological, and social mechanisms of their functioning have been identified. The obtained results demonstrate that aviation clusters create high-tech jobs, stimulate innovation, integrate scientific and educational resources, and enhance the sustainability of the regional economy. The study outcomes can be used for strategic planning and development of regional cluster policy.</p>