Hearts of Iron 3 Modern Warfare puts you in the seat of government of any country during the years 2000 - 2011.
This screenshot shows the air doctrines tree which will be introduced in Modern Warfare.
A lot has changed in aviation and air combat since WW2 and these changes will be reflected in the mod. While it is important to have a large and sophisticated air force you will also need to have good pilots piloting your planes into combat.
Getting a powerful air force will be a difficult task for minor nations, on the other hands being a member of NATO may help you in achieving this goal.