Broadly speaking, the U.S. trucking industry can be divided into three main sectors: full truckload (FTL), less-than-truckload (LTL), and couriers. FTL carriers are those who haul large amounts of homogenous cargo, generally enough to fill an entire semi-trailer or container. Fleets in the FTL sector can be either privately owned, for example by a large manufacturer who needs to distribute their goods, or available on a for-hire basis. For-hire carriers generally offer additional logistics and transportation services, such as intermodal transport options. The largest U.S. FTL carrier is J.B. Hunt, who in 2018 reported a total operating revenue across all operating segments of over eight billion U.S. dollars. Other prominent FTL carriers are Schneider National and Knight-Swift, who reported over 4.5 billion U.S. dollars and five billion U.S. dollars in revenue for 2018 respectively.
Conversely, LTL carriers transport shipments that are larger than parcels, but not large enough to fill a full trailer. Many LTL carriers will transport multiple shipments simultaneously to optimize their operations. The largest LTL carrier is FedEx Freight, who in 2018 reported 7.3 billion U.S. dollars in revenue from LTL shipments. Following FedEx, the next largest carriers are Old Dominion, XPO Logistics and YRC Freight, all of which generated somewhere between three and four billion U.S. dollars in revenue in that year from LTL shipments.
Finally, the courier sector is comprised of carriers of non-palletized and light goods, such parcels. Three main companies dominate this sector in the United States: the U.S. Postal Service, FedEx and UPS. Revenues in this sector appear higher than for FLT and LTL: FedEx Express reported just over 29 billion U.S. dollars in revenue from package delivery for their 2019 fiscal year, while UPS reported close to 43.6 billion U.S. dollars in revenue from domestic package delivery in 2018. However, not all this revenue can be directly attributed to the courier sector of the trucking industry.