In my opinion, if you are able to get a co-op with an aerospace company, I would recommend taking it. First and foremost, I would focus on securing a summer internship. A summer internship should be your primary goal since it will get your foot in the door.
If you are interested in continuing with that company, I think it’s a great opportunity to continue to work for them in a co-op to help your odds of going there post-graduation.
Before doing a co-op, it’s important to be sure that it is the field that you want to go into. Therefore, I wouldn’t recommend looking at co-ops until at least your sophomore year.
Hope that helps!