A critical issue to mention is that the plane has not just 'disappeared', it simply has not yet been located.
First I would like to express my sincere condolences for the families of persons on that flight who are grieving and waiting in agony for just any information which will give them closure to (what is very likely) a tragic situation.
I am not in any way connected to the aviation industry nor to any air investigations branch nor any insurance company and my views here are entirely subjective.
I have a very simple question to ask of the air aviation industry:
In an era where we can send craft to land on planets within our own solar system and satellites beyond towards other galaxies, is it not possible to provide real-time location to the millisecond of every aircraft in-flight on our planet today?; or are the lives of passengers not yet worth the investment in the technologies available to provide such data?
I am familiar with real-time location and there are no reasons, other than costs, why such cannot be incorporated into a variety of aspects of civilian facilities to improve safety and security.
In my opinion, the lives of public air transport passengers do not reach the profit margin where it justifies the inclusion of technologies to map by the second their in-flight journeys.
It is for this reason that all airlines are comfortable with the status quo.
Having said this, the oceans covering this planet are vast and it is simply not yet possible (for the reasons given earlier) to accurately pinpoint exact locations to the millisecond.
It will be up to the the major manufacturers of civilian aircraft in U.S., Great Britain and Europe (The European Union) to set new directions in policies and procedures so as to ensure that air safety is improved with the inclusion of available technologies so that real-time (by the second) analysis and observation is mandatory for all in-flight civilian aircraft.
Patrick Emek
article amended for brevity and accuracy,March 12, 2014