That does sound like the sort of degree that there would be jobs for in NZ. Nelson is quite small (although there is a reasonably big aircraft workshop here as they do all the servicing etc for Air New Zealand Link which has all the smaller planes - Nelson has NZ's 4th busiest airport (still not at all big though). I think that engineering is still relatively respected in NZ (compared with the UK where I was before). Good luck with the scholarship - would provide a good change to have a good look around and make some contacts.
Masters degree in NZ usually 5 years (can sometimes be 4) - 3 years undergraduate, 2 years masters most typical - in a science/engineering field would normally have a research component.