The aviation industry supports $3.5 trillion (4.1%) of the world's gross domestic product (GDP). If aviation were a country, it would rank 17th in size by GDP.
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With its job security, high salaries, and international opportunities, it's no wonder why jobs in this field remain some of the most sought-after professions today. So, if you're looking for an exciting career with lots of potential growth and rewards, consider an aviation career! You won't regret it!
American Airlines pilots earn an average salary of $118,000, with some pilots earning in excess of $700,000. Most importantly, pilot salaries continue to increase. Even international airlines pay well. For instance, Qatar pilots average $173,000-187,000 annually.
Aside from the realities of the physics of flight, people will always want to be on the move. Demand for air travel will keep growing in the foreseeable future, according to IATA, whose recent figures show that demand is expected to reach 94% of 2019 levels in 2023 and will increase to 103% in 2024 and 111% in 2025.
While the COVID-19 pandemic posed significant challenges, the long-term outlook remains positive. These include increasing global travel demand, emerging markets, and advancements in electric and sustainable aviation technologies that are driving growth.
Over the next 10 years, the worldwide commercial aircraft fleet will grow 3.3% annually from 29,000 to 42,000, notwithstanding the ongoing geopolitical and supply chain challenges impacting Original Equipment Manufacturers (OEM) production rates, according to Alton Aviation Consultancy.
The aviation industry is a critical component of global transportation, connecting people and economies worldwide. However, it is also a high-risk industry with many potential hazards and uncertainties.
Over the coming years, there are likely to be many opportunities to work as a pilot. The Bureau of Labor Statistics expects the number of airline and commercial pilot positions to grow 13% by 2030 . This is faster than the expected average career growth.
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.
Boeing ForecastTrusted 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.
Hyperloops, supersonic jets and electric aircraft: Here's what transport could look like by 2050. E-bikes, scooters and now even cargo bikes are also helping travelers, commuters, and delivery drivers cover shorter distances in urban areas without needing a fossil fuel-powered vehicle.
Airline Pilot: $117,000While some commercial pilots earn as little as $20/hour, experienced pilots with thousands of hours are by far the best-paid workers in aviation, with some earning well over $200,000 a year.
Safety and security remain top issues for commercial aviation companies. What are they doing to continue improving in these areas? If there is any one universal top priority of every airline worldwide, it is ensuring the safety and security of their passengers, crew, and the greater public.