Are pilots in high demand right now?

Post-Pandemic Pilot Shortage Early retirements during the coronavirus pandemic have accelerated demand for new pilots to enter the industry and begin training.



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According to the Regional Airline Association, nearly 50% of today's qualified pilots must retire in the next 15 years, creating a high demand for pilots.

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With the lifting of COVID-19-related sanctions on air travel, demand rebounded more quickly in North America than elsewhere. As a result, the region already has an acute pilot shortage, equivalent to 11% of pilot supply, or about 8,000 pilots, and this gap will only widen throughout the decade.

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In the next 20 years, the air travel industry will need 649,000 pilots, which comes out to about 32,000 pilots needed a year. This demand comes from more than 25% of commercial pilots reaching the mandatory retirement age in the next decade, as well as the increased demand for air travel.

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The region could face a shortage of 3,000 pilots by 2023 and 18,000 by 2032. Europe currently is in surplus and we expect it to remain so until the middle of the decade, but then forecast a shortage of 19,000 pilots by 2032, driven predominately by increased demand.

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In 2020, the number of pilots aged over 45 was around 16,000, while the demand for air travel has been growing strongly and consistently over the last decade. In total, it is estimated that around 81,000 additional pilots will be needed across the Americas between 2019 and 2029.

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The root cause of the coming shortage varies by region: In the United States, it's an aging workforce facing mandatory retirement, fewer pilots exiting the military, and barriers to entry, including the cost of training.

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Consulting firm Oliver Wyman estimates that despite efforts to close the gap, airlines in North America will face a shortage of nearly 30,000 pilots by 2032. The supply of new pilots will grow, but not enough to offset a continuing wave of retirements, the consultant says. There is cause for hope, however.

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Is being a pilot worth it in 2023? In terms of job security, becoming a pilot is a very safe bet. With the world's ever-growing population, the demand for air travel will only increase.

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Job Outlook
Overall employment of airline and commercial pilots is projected to grow 6 percent from 2021 to 2031, about as fast as the average for all occupations. About 18,100 openings for airline and commercial pilots are projected each year, on average, over the decade.

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The demand for pilots will be at an all-time high over the next 20 years, according to some industry experts. Most of the expected pilot shortage will be experienced in China and India, with a smaller demand felt in the United States and Middle East.

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Boeing Forecast Trusted by more than 100 aviation regulatory agencies worldwide, the current Boeing Pilot & Technician Outlook concludes that the aviation industry will need to supply more than 602,000 commercial airline pilots worldwide over the next 20 years2.

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2025 – 34,000 pilots shortage
More than 34,000 newly trained pilots needed by 2025. The FAA predicts that air travel demand will continue to grow at a rate of 4.3 percent per year, even as more than 4,100 pilots per year retire in the US alone.

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The good news for those who are above the age of 17, is that there is no maximum age for getting your private pilot license. The world is your oyster, and it is never too late to go for your private pilot's license. That said, getting your medical certificate is required by the FAA to fly solo.

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Being a pilot can be stressful at times. It requires immense concentration, quick decision-making, and a lot of patience. A pilot is responsible for the well-being of all crew members and passengers on board, and they sometimes have to fly under unpredictable conditions.

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The demand for pilots will be at an all-time high over the next 20 years, according to some industry experts. Most of the expected pilot shortage will be experienced in China and India, with a smaller demand felt in the United States and Middle East.

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In the 1980s, roughly two-thirds of all airline pilots in the United States had some form of military experience, be it Air Force, Army, Navy, or National Guard. Today, it is estimated that about one-third of airline pilots have military backgrounds, a sharp reduction that can be attributed to multiple factors.

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In the U.S., there are no FAA age limits for pilots except for commercial airline pilots employed by airlines certificated under 14 CFR Part 121. These airlines cannot employ pilots after they reach the age of 65. However, these pilots may stay on with a Part 121 carrier in some other role, such as flight engineer.

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In 2023, we expect this average pilot salary to increase by 20-40% over the next four years.

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The industry's pilot shortage is likely to continue for a few years and airlines are negotiating bumper new contracts, which means pay is expected to keep rising. The mounting labor costs will affect the whole sector but impact some airline stocks more than others.

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