Aircraft maker Boeing anticipates exponential rise in Southeast Asia aviation personnel demand
Aviation staffing demand will more than triple in the next two decades with fastest growth seen in South Asia, Southeast Asia and Africa.
According to aircraft maker Boeing's 2024 Pilot and Technician Outlook (PTO) report, the aviation industry will require nearly 2.4 million new professionals to support growing commercial fleets and meet long-term increase in air travel.
Commercial carriers will need the following new personnel through 2043 to sustain the global commercial fleet, including 674,000 pilots, 716,000 maintenance technicians, and 980,000 cabin crew members, the report says.
![A Boeing aircraft. Photo courtesy of Boeing.](https://i.ex-cdn.com/theinvestor.vn/files/content/2024/07/24/boeing-theinvestor-1-1508.jpg)
A Boeing aircraft. Photo courtesy of Boeing.
In 2043, Southeast Asia will need 60,000 new pilots, 77,000 maintenance technicians, and 97,000 cabin crew members, the report estimates.
It quotes Chris Broom, vice president, commercial training solutions, Boeing Global Services, as saying: “Driven by aviation traffic trending above pre-pandemic levels, personnel attrition and commercial fleet growth, the demand for aviation personnel continues to rise.
“We are focused on being a reliable and innovative partner in the lifecycle of aviation training. Our offerings are rooted in competency-based training and assessment programs to help ensure high quality aviation training starting in flight schools and in commercial operations while helping enhance aviation safety through immersive and virtual training solutions.”
The report also says that demand for new personnel will be driven primarily by single aisle airplanes, except in Africa and Middle East where widebody airplane demand leads.
It says Eurasia, China and North America will drive demand for more than half of new industry personnel, while South Asia, Southeast Asia and Africa will be the fastest-growing regions for personnel, with staffing demand more than tripling over the next 20 years.
Two-thirds of new personnel will address replacement due to attrition, while one- third will support growth in commercial fleets, the report adds.
- Read More
Former pharma firm chairwoman gets 3-year imprisonment for land auction violations
Nguyen Thi Loan, former chairwoman of Vimedimex Medi - Pharma JSC (VMD), was sentenced to three years in prison and fined VND40 million ($1,609) on Wednesday for “violating regulations on asset auction activities”.
Society - Wed, September 4, 2024 | 11:01 pm GMT+7
Foxconn steps up Vietnam capacity footprint in shift away from China: S&P Global
In line with the ongoing tech supply chain shift out of China, Foxconn is accelerating its capacity footprint across India, Vietnam and Mexico, S&P Global Ratings says in a recent report.
Companies - Wed, September 4, 2024 | 6:07 pm GMT+7
Airports Corporation of Vietnam chairman Lai Xuan Thanh retires
Lai Xuan Thanh is no longer chairman of airport operator Airports Corporation of Vietnam (ACV) as he retired, starting from September 1.
Companies - Wed, September 4, 2024 | 6:01 pm GMT+7
Vietnam apartment prices to keep rising as demand outstrips supply
Apartment prices in major Vietnamese cities are expected to rise further this year as demand continues to outpace supply, industry insiders say.
Real Estate - Wed, September 4, 2024 | 4:36 pm GMT+7
BCG Eco: Bamboo Capital trains sights on carbon credit market in sustainable development push
Multi-sector conglomerate Bamboo Capital Group has decided to establish BCG Eco, a company specializing in afforestation, forest care and forest tree nursery, in its pursuit of sustainable development goals.
Bamboo Capital - Wed, September 4, 2024 | 4:27 pm GMT+7
Foreign players net sell record $2.6 bln worth of Vietnam shares in 8 months
Foreign investors net sold a total of VND64,718 billion ($2.6 billion) worth of equities on Vietnam’s stock exchanges in the first eight months of this year, a new record.
Finance - Wed, September 4, 2024 | 4:07 pm GMT+7
S Korea’s SK Group sells 7.1% stake in Vietnam retailer to Masan for $200 mln
South Korea’s chaebol SK Group will sell a 7.1% stake in WinCommerce, a leading retailer in Vietnam, to the latter's majority shareholder Masan Group for $200 million, Masan announced Wednesday.
Companies - Wed, September 4, 2024 | 3:36 pm GMT+7
US firm Black & Veatch to study carbon capture feasibility at Vietnam coal-fired power plants
Black & Veatch, an engineering, procurement, consulting and construction company in the United States, will study carbon capture, utilization and storage (CCUS) technology deployment at coal-fired power plants in Vietnam.
Energy - Wed, September 4, 2024 | 2:07 pm GMT+7
International consortium to promote hi-tech investments in southern Vietnam IP
Four companies from Vietnam, Australia and Singapore will jointly promote high-tech investments at the Duc Hoa 3 Industrial Park in Long An province, a manufacturing hub in southern Vietnam.
Industrial real estate - Wed, September 4, 2024 | 1:56 pm GMT+7
Thai energy firm Ratch aims to run 12-MW Vietnam hydropower plant next quarter
Ratch Group, a major energy company in Thailand, aims to achieve a commercial operation date (COD) for its Song Giang 1 hydropower plant in Vietnam’s central coastal province of Khanh Hoa from the next quarter.
Energy - Wed, September 4, 2024 | 11:00 am GMT+7
Vietnam’s August factory activity improves for 5th straight month: S&P Global
Manufacturing activity in Vietnam continued to expand in August, extending its improving streak for a fifth month in a row, but at a slower pace, with further expansions in output and new orders, according to S&P Global.
Economy - Wed, September 4, 2024 | 9:21 am GMT+7
Central Vietnam province calls for investment in $2.4 bln LNG-fired power plant
Nghe An will organize a meeting this Friday with potential investors for the $2.4-billion Quynh Lap LNG-fired power plant in the central Vietnam province, its Department of Industry and Trade has announced.
Energy - Wed, September 4, 2024 | 7:12 am GMT+7
Taiwan-invested Cathay Life Insurance Vietnam’s H1 post-tax profit falls 3.2%
Cathay Life Insurance Vietnam Co., Ltd., under Taiwan-based life insurer Cathay Life, recorded a post-tax profit of VND836.4 billion ($33.6 million) in Vietnam in the first half of 2024, down 3.2% year-on-year.
Finance - Tue, September 3, 2024 | 10:05 pm GMT+7
M&A cold, FDI hot as ‘eagles’ make high-tech, green investments in Vietnam: KPMG exec
Foreign investors are increasing their Vietnam investments, focused particularly in electronic components, semiconductors and green energy, but mergers and acquisitions (M&A) activities have declined sharply, says Nguyen Cong Ai, a partner with KPMG Vietnam.
Economy - Tue, September 3, 2024 | 3:37 pm GMT+7
Central Vietnam province to scrap dormant $72 mln resort project
Binh Dinh authorities are carrying out procedures to suspend the $72 million Phuong Mai Bay resort project located in the central province’s Nhon Hoi Economic Zone.
Real Estate - Tue, September 3, 2024 | 1:41 pm GMT+7
Shinhan Bank Vietnam posts 6.2% growth in H1 post-tax profit
Shinhan Bank Vietnam, wholly owned by South Korea’s Shinhan Financial Group, earned a post-tax profit of VND2,523.8 billion ($101.5 million) in the first half of this year, up 6.2% year-on-year.
Banking - Tue, September 3, 2024 | 12:47 pm GMT+7