Upcoming Pilot Shortage and Pilot Demand
Due to factors like growing consumer demand and flight routes, as well as forced retirement of many current pilots, Boeing is estimating that more than 700,000 commercial pilots will be needed worldwide by the year 2039. In North America alone, there are over 200,000 pilots that will be needed to cover current pilot retirements and industry growth over the next 20 years.
Over the last few years, experts have done an extensive analysis on new pilot certificates and ratings being issued compared to the number of pilots that are going to be needed over the next 20 years. They’ve taken into account not only current pilots who would need to retire but also the growth of new planes entering the industry that would need to be filled. The data is showing that the number of new pilots entering in the industry is extremely lacking meaning there is a large looming pilot shortage.
What this means for current pilots, as well as pilots currently in and soon to enter training, is that Pilot Salaries and benefits can be expect to rise and improve as airlines look to fill this gap in their supply chain and secure the pilots that they need. Not only this but signing bonuses and other benefits may also grow and improve as airlines compete for the best pilots available. It truly is a sellers’ market, and a great time to prepare for this coming demand.