More than 20,000 people are expected to attend the eighth Wings Over Illawarra event to be held during the weekend of May 2-3.
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In a change in format, the annual event will be held over two days for the first time.
NSW Minister for Trade, Tourism and Major Events Stuart Ayres officially launched the 2015 event at the Illawarra Regional Airport on Wednesday, describing Wings Over Illawarra as the state's major air show.
Mr Ayres said of the 20,000 expected to attend, 11,000 would be visitors from outside the Illawarra region who would generate an estimated $1.7 million for the local economy.
Event co-ordinator Mark Bright said holding the air show over two days would "enhance the experience for ticket holders and ease traffic impacts" as well as bring benefits for the region's accommodation providers.
Former Aviator Lounge restaurant owners Mark and Kerry Bright took over the running of Wings Over Illawarra last year from a community committee.
They took a financial hit at their first event as private operators last May when wild weather played havoc with the program.
"We copped the coldest, windiest May day in the Illawarra in 62 years," Mr Bright said.
Mr Bright said they had a choice whether to continue this year, but felt Wings Over Illawarra was too big an event to let go.
The fact it would be held over two days would help minimise the financial risk, while the east-west runway would be available this year should crosswinds affect the main north-south runway.
The layout of the displays has also been modified from previous shows.
This year's event has received a boost with the arrival of the Qantas 747-400 last month and the publicity that has been generated for the airport and the Historic Aircraft Restoration Society.
Negotiations in recent years with the Civil Aviation Safety Authority also means the event is now a true air show with aerobatic displays, unlike some earlier events which were officially "air displays".
"Interest and support for Wings Over Illawarra has grown steadily as more airborne action and ground displays have been added - particularly with the introduction of more exciting aerobatics," Mr Bright said.
Destination NSW and Paul Bennet Airshows are now ""strategic partners" for the event, with Shell Aviation and Canon major sponsors.
Mr Bright also acknowledged the strong support that Wings Over Illawarra had received from the Australian Defence Force, which this year has committed 17 aircraft to the event.
Mr Bright paid tribute to Shellharbour City Council and Illawarra Regional Airport tenants for their longstanding support for the annual air show.
As Mr Ayres officially launched the 2015 air show on Wednesday, Paul Bennet took to the skies to deliver a taste of the aerobatics that will be on show at this year's event.
WINGS OVER ILLAWARRA
Saturday May 2 and Sunday May 3
* The Royal Australian Air Force is sending its hot air balloon, the Roulettes aerobatic display team, an F/A-18 Hornet fighter, a C-130 Hercules air lifter, a P-3 Orion Ocean Patrol aircraft and a giant C-17 Globemaster transport aircraft to be part of the show.
* The Navy’s Fleet Air Arm will be represented through aSeahawk, MRH-90 Taipan and Bell 429 helicopters along with the popular Squirrel Pairs helicopter display team, the Navy’s Historic Flight and helicopter simulators.
* The Australian Army’s aviation regiment is also participating, sending a Blackhawk helicopter along with the popular Red Berets parachute team that has featured at previous shows.
* There will be solo displays by Paul Bennet and Red Bull Air Race competitor Matt Hall, formation aerobatics by the Sky Aces and Russian Roolettes aerobatic display teams, Australia’s last operating Sabre jet fighter, a Sumermarine Spitfire
* A diverse array of on-ground displays from the Historical Aircraft Restoration Society’s collection including the recently-arrived retired Qantas Boeing 747-400.
