While the ubiquity of electronic mailing continues to trouble the USPS, courier services remain the beneficiaries of growing online retail sales: End customers as well as businesses are increasingly buying physical items online, and these items require delivering. In 2020, FedEx was the second-largest for-hire carrier and the leading less-than-truckload (LTL) carrier in the United States.Īs a result of the world’s growing digitization, the industry has gone through several innovation processes, including the use of GPS* and RFID** technology to track vehicles and parcels. The company’s key competitors include Georgia-based UPS (United Parcel Service of North America, Inc.), YRC Worldwide and Deutsche Post DHL. Tennessee-headquartered FedEx offers both air and ground courier operations including third-party logistics operations. FedEx is ranked among the leading logistics companies in the United States.įedEx and other private parcel services became more prominent due to a lack of satisfaction with the United States Postal Service (USPS). In the fiscal year of 2022, the company generated almost 94 billion U.S. The timeline depicts the FedEx Corporation's revenue from the fiscal year of 2009 to the fiscal year of 2022.
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