Comparing The Shortage Of Pilots Affecting The Military And Airline Industry

I don’t know if this is a definite future predetermined goal for me but, my current job is affected by it and what I do know is that it is currently affecting the Military and Airline Industry and their shortage of pilots in both industries. For those that are involved in the aviation sector, have probably heard that there has been a huge shortage of pilots due to the growing demand of pilots. The demands for pilots have increased worldwide due to growth rates in passenger demand and aircraft fleets growing to accommodate these increases. As we learned in Chapter 3, the definition The “Law of Demand- as the price of a good rises, the quantity demanded of the good falls, and as the price of a good falls, the quantity demanded of the good rises, ceteris paribus” (Arnold, 2016). This shortage of pilots due to the rising demand has caused many airlines to reduce scheduled flights and some

A person paying out of their own pocket to secure all the FAA certifications can expect to pay about $100,000 dollars for the education and flight training alone discouraging many Aviator prospects from chasing their dreams in the Aviation sector (Statista, n.d.). Another cause to the shortage of pilots is that “a very large proportion of current pilots will reach retirement age leaving a considerable gap of expertise. As of 2016, the average age of airline pilots worldwide was estimated to be about 45 years of age. Amidst the oncoming wave of aviation retirees, the major area for training and recruitment of major airline pilots — regional carriers and the military — are also struggling to find and keep aviators” (Statista, n.d.). According to Chapter 3 in our text, shortage or (Excess Demand) means a condition in which the quantity demanded is greater than the quantity supplied. Shortages occur only at prices below the equilibrium price (Arnold,