If they want to see big planes up close and even go in some they will love it. The staff is outstanding and will keep them engaged.
If they have any interest in planes then I would say yes. There is a lot to look at. There is also a small children's area where they can wear space suit costumes and play around.
There's the yard too with relics. And a gift shop where I'm sure you can find goodies for young kids too.
If they like airplanes, they should be excited.
I brought my daughter there when she was 2 and she loved it. She already liked planes and air shows though.
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