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Africa’ll Need 22,000 Pilots in 20 Years – Boeing

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Pilots

Aircraft manufacturing giant, Boeing, has predicted that Africa will need  about 22,000 new pilots and 24,000 new technicians by 2035.

In a statement on their website, Boeing added that a total of 1.5 million new pilots and 24,000 technicians would be in demand worldwide at the same period.

According to Boeing, the outlook represents a global requirement for about 31,000 new pilots, 35,000 new technicians and 40,000 cabin crew annually.

A breakdown of the figure region by region shows that Asia Pacific has the highest forecast with 248,000 pilots and 268,000 new technicians; Europe, 104,000 pilots and 118,000 new technicians; and North America, 112,000 pilots and 127,000 new technicians.

In addition, 51,000 pilots and 50,000 new technicians would be in demand in Latin America; 58,000 pilots and 66,000 technicians in the Middle East; and Russia, 22,000 pilots and 26,000 technicians by 2035.

The forecast was made at Boeing’s 2016 Pilot and Technician Outlook at EAA Air Venture Oshkosh.

The outlook is a respected industry study, which forecasts the 20 year demand for crews to support the world’s growing commercial airplane fleet. This year’s outlook focuses on cabin crew demand.

It shows a growth of 10.5 per cent for pilots over the 2015 outlook and 11.3 per cent for maintenance technicians.

The Vice-President, Boeing Flight Services, Sherry Carbary, said, “The pilot and technician outlook has become a resource for the industry to determine demand for successful airline operations. Cabin crew are an integral part of operating an airline.

“While Boeing does not train cabin crew like pilots and technicians, we believe the industry can use these numbers for planning purposes.”

Boeing forecast that between 2016 and 2035, the world’s commercial aviation industry would require approximately 617,000 new commercial airline pilots, 679,000 commercial airline maintenance technicians and 814,000 cabin crew

Boeing said that new pilot demand had been primarily driven by new airplane deliveries and fleet mix, while new technician demand was driven by fleet growth.

According to Boeing, the Asia-Pacific region comprises 40 per cent of the global need due to the growth in the single-aisle market, which is driven by low-cost carriers, while North America is the result of new markets opening in Cuba and Mexico and demand in Europe has increased as a response to a strong intra-European Union market.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Technology

Smart City Startups to Generate $110.7B in Revenue by 2025, a Trifold Increase in Five Years

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Smart City Startup - Investors King

Smart city startups offer innovative solutions for urban challenges, including public and cybersecurity threats, traffic congestion, energy management, and e-governance. Over the years, the revenues of these companies increased significantly and are expected to continue growing in the future.

According to data presented by Aksje Bloggen, smart city startups worldwide are expected to generate $110.7bn in revenue by 2025, a trifold increase in five years.

Asian, European and American Smart City Startups to Witness Three-Digit Revenue Growth

Smart cities aim to cater to the growing urban population while improving on safety, sustainability, and mobility. These initiatives are backed by new technologies like artificial intelligence and the Internet of Things using sensors and data collection to gather large amounts of public data available for researchers and startups to work with.

Last year, smart city startups worldwide generated $32.3bn in revenue, revealed the Statista survey. This figure includes all revenue that companies generated by offering technologies and products that use information, data and connectivity technologies to create more value within the public city environment.

In 2021, smart city startups’ revenues are expected to grow by $6.7bn and then surge by a staggering $71.7bn in the next four years.

Analyzed by regions, Asian smart city startups are expected to generate $14.9bn or 38% of total revenues in 2021. By 2025, this figure is forecast to soar by 232% to $49.6bn.

European smart city startups are expected to witness a 166% revenue growth in this period, rising from $8.7bn in 2021 to $23.16bn in 2025.

North American startups follow with $12.3bn in revenue in 2021. Statista data show this value is set to grow by 152% and reach $31.2bn in the next four years.

Smart Utilities the Largest Revenue Stream, Environmental Solutions to Witness the Biggest Growth

The Statista survey revealed that smart utilities generate the highest share of startup revenues in the smart city market. In 2021, these startups are expected to make $10.7bn or one-third of total revenues.

Smart utilities are companies in the electric, gas and water sectors that employ connected sensors across their grids to analyze operations and deliver services more efficiently. Most of them are heavy users of the IoT technology and the latest communications, software, computing, and mapping solutions. By 2025, the entire segment will grow by 180% and hit a $30bn value.

As the second-largest revenue stream, the mobility segment is set to reach a $9.4bn value this year. Statista predicts this figure to jump by nearly 190% to $27.2bn in the next four years.

Smart buildings are expected to witness a 172% revenue growth in this period, with the figure rising from $7.2bn in 2021 to $19.2bn in 2025.

However, startups delivering environmental solutions for smart cities are set to witness the most significant growth in the following years. Between 2021 and 2025, their revenues are expected to surge by 210% and hit $16.4bn globally.

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Uber Raises Tfare By 13 Percent In Lagos

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The economy option for ride-share giant company, Uber, popularly referred to as UberX, has been increased by 13 percent in Lagos State.

An electronic mail message from the ride-hailing firm to its drivers stated that the increment would start from May 11, 2021.

Uber said the increase was to ensure a reliable earning opportunity for driver-partners.

“At Uber, we remain committed to providing a reliable earning opportunity for driver-partners, as well as a reliable and affordable service for riders. With this in mind, starting 11th May 2021, we are increasing prices on UberX by about 13 percent,” the message read.

Earlier, Uber and Bolt drivers under the aegis of Professional E-hailing Drivers and Partners Association, declared a strike in April in Lagos, seeking an upward review of e-cab fares to reflect the current economic

They also wanted both companies to reduce the commission charged on rides from 25 percent to 10 percent.

National President of PEDPA, Mr. Idris Shonuga, had at a news conference in Lagos, said, “Instead of fixing a new and reasonable fare in line with inflation, the companies have recklessly continued to maintain the low fare, thereby, impoverishing hard-working young Nigerians who are diligently and lawfully trying to make a decent living.”

The e-cab operators also demanded adequate welfare package for drivers and compensation to the families of those that lost their lives or are permanently disabled in the line of duty.

The association said that more than 15 drivers had lost their lives, while some had been permanently disabled in accidents in the course of the service.

It also said more than 20 others have also lost their lives through kidnapping or killed by ritualists without any compensation from the operators.

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CEOs of Major Tech Companies Have Sold Over $6 Billion of Their Stocks in 2021

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Stocks - Investors King

Data acquired and calculated by Finbold indicates that CEOs of the five selected major tech firms have sold $6.36 billion worth of shares between January 1 and May 10, 2021.

Jeff Bezos leads, having offloaded AMZN shares worth $4.9 billion. Facebook CEO Mark Zuckerberg has sold $1.2 billion of his stock. Cumulatively, the two executives have offloaded $6.1 billion worth of shares from their respective companies.

Elsewhere, Nvidia CEO Huang Jen Hsun has sold $77.28 million worth of shares to rank third. Microsoft chief executive Nadella Satya has offloaded $65.44 million of MSFT stock, while Alphabet’s Pichai Sundar has sold $33.05 million. Among the top tech companies, only Tesla and Apple CEOs have not sold any of their stock in 2021.

Insider selling follows a surge in tech stocks

The highlighted companies have recorded a spike in the stock value over the past year, and the research report notes that:

“The sales come in the wake of tech sector stocks surging to new highs amid the coronavirus pandemic. In the pandemic, with wide-scale lockdowns, the companies run by the CEOs played a key role by offering services and products to help people manage the effects of the health crisis. The attention on these services drives the stock prices to record levels.”

Although insider trading is increasing in popularity, the activity is an essential indicator for investors to predict future price movement.

Overall, insider trades offer the overall market and investor outlook. When a single executive increases selling activity but others hold their shares, it does not call for alarm among investors.

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