I have kind of lost faith in the Airline Pilot shortage, I believe it does exist due to captains retiring and fleet expansions and so forth, but I don't believe it is going to be felt drastically due to the many many qualified pilots out there.
I do however have faith in the Military pilot shortage. I think all three services are short of pilots, and I know the Navy is really short. I think the Navy are so low because there are no Sea Harrier pilots making the course. However I personally think this will go go very shortly, simply because all entry pilots (I think) are getting streamed for Harrier immediately.
Therefore the slots will soon get filled up, and the inevitable failure rate will cause there to be a lot of Rotary pilots aswell, and the time it takes for the people going Rotary to get sorted out, will mean big waits for all flying to start.
However I don't really know enough to have a sound understanding, so if I have anything wrong please correct me!
Thanks,
Rusty.