Aeronautical engineering masters

Do foreign students get jobs in aeronautical sector after Masters from a University in USA/Europe itself, considering the privacy and confidentiality?

You are right in that there are companies where given the privacy and confidentiality of the work being done, an international student might not get the required security clearances. Having said that, this is not true for all companies. Even within companies that would require security clearances for certain roles, there are roles that do not require such clearances. Also, based on my experience I can think of areas like high speed trains (TGV), Formula1, and software providers like Fluent where one could put there knowledge to use.