Do you mean aerobic exercise (like exercise with sufficient oxygen) or aerobics, like aerobics class, like this?:
And yes, it elevates heart rate and breathing and it WILL cause calories to be burned, but there are other ways that will cause more calories to be burned faster.
When that is said, it doesn't matter how many calories you burn with exercise if you still eat over that.
let's say your maintence is 3000 cals, this is what you need to maintain your weight with no exercise.
Let's also say that you eat 4000 cals. You will gain weight. If you now add enough exercise every day that burns 500 cals, you have burned 500 of the 4000 you eat, you're now at 3500. You are still over your maintence.