FedEx Corporation is an American multinational courier delivery service company famous for its overnight shipping and delivery services with headquarters in Memphis, Tennessee. Founded in January 1998, FedEx has grown to become one of the global leaders in couriers and local delivery services. The company generated nearly 94 billion U.S. dollars in annual revenue in the 2022 fiscal year, of which around 35.7 billion U.S. dollars was total package revenue.
Business segments of FedEx
Initially known as FDX Corporation, its name was formally changed to its current name in January 2000. This name change was followed by a general rebranding of its subsidiaries offering other services besides express shipping. FedEx's numerous operating segments include its original overnight courier services, FedEx Express, FedEx Ground, FedEx Freight, Fed Ex Custom Critical, and FedEx Services. In 2022, FedEx Express had a total aircraft fleet size of 675 aircraft in service. That same year, FedEx Express' freight revenue amounted to more than 8.7 billion U.S. dollars. The FedEx Services segment comprises subsidiary divisions such as FedEx Offices (formerly FedEx Kinko's), FedEx Ship Centers, and FedEx office and print centers which provide services such as copying, printing, and access to the internet.
FedEx in the international market
FedEx Corporation has continued to grow its portfolio, with total assets rising to nearly 86 billion U.S. dollars in 2022. Looking to expand its operations in Europe, FedEx acquired TNT Express, a Dutch-owned international courier delivery service company, in May 2016.
FedEx's most significant competitors in the field of parcel delivery include the United Parcel Service (UPS) and Deutsche Post DHL Group. In 2021, UPS and DHL generated around 97.3 billion U.S. dollars and 81.7 billion euros in revenue, respectively.
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