Demand for air travel is multiplying, but we’re facing a Pilot shortage. 800,000 new pilots are needed over the next 20 years – according to Boeing’s latest forecast.
Boeing CEO Dennis Muilenburg believes a growing shortage of pilots represents “one of the biggest challenges” facing the airline industry.
This coincides with a time when more people are flying, yet the number of pilots being trained, doesn’t meet the demand.
Air travel is continuously on the rise, so much so, that 800,000 new pilots will be needed over the next 20 years – according to Boeing’s latest forecast.
“If you look at those 44,000 new airplanes over the next 20 years, to go along with that we need about 800,000 new pilots, 750,000 new aviation technicians and so building that talent pipeline for the future is really important,” Muilenburg said.
With the biggest demand in the Asia-Pacific region, an improving economy in China means more people are seeking to travel and book flights.
The U.S has also seen a significant increase in travel demands, just at the same time their experienced pilot workforce are reaching the mandatory retirement age of 65.
Speaking to CNBC’s Phil LeBeau at the Paris Air Show, Muilenburg described a global pilot shortage as “one of the biggest challenges we have going forward.”
Muilenburg said that, according to Boeing’s latest outlook, the market place would climb to $8.7 trillion, up from $8.1 trillion, over the next 10 years. He also estimated the number of new commercial airplanes would rise to 44,000, up from 43,000, over the next two decades.