From the perspective of input and output, this paper constructs an evaluation index system for the status quo of technology innovation resource allocation in China’s aerospace industry. Taking the industrial panel data of 20 provincial regions from 2007 to 2016 in China as samples, this paper uses the stochastic frontier method, which is improved by the projection pursuit model based on accelerated genetic algorithm, to analyze the factors influencing the allocation efficiency of technology innovation resource in the aerospace industry and then make a static evaluation for the current situation. In addition, based on the perspective of velocity characteristics, this study uses the dynamic comprehensive evaluation model to evaluate the resource allocation of technology innovation in the aerospace industry. The empirical research shows that the resource allocation efficiency of technology innovation in the aerospace industry is generally at the lower middle level, indicating an unbalanced trend of “reverse” allocation with the level of regional economic development. It is also found that the efficiency improvement effect in recent years is not obvious. At last, based on the study’s findings, some countermeasures and suggestions are put forward to improve the current situation.