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FedEx, also known as Federal Express, is a global courier delivery services company that specializes in providing fast and reliable shipping solutions.
It was founded in 1971 by Frederick W. Smith, who came up with the concept of an overnight delivery service while studying at Yale University. The company initially began operations as Federal Express Corporation, offering overnight courier services.
The company operates one of the most extensive transportation and logistics networks in the world, with a presence in more than 220 countries and territories. Its network includes air and ground transportation hubs, distribution centres, and a fleet of aircraft and vehicles.
According to reports, In the year 2022, the size of the Indian logistics market was around 274 billion U.S. dollars. It was estimated that this market would grow to 563 billion dollars in 2030, at a compound annual growth rate of 9.4 per cent.
The global logistics market size was accounted for USD 7.98 trillion in 2022 and it is expected to be worth around USD 18.23 trillion by 2030 with a noteworthy CAGR of 10.7% from 2023 to 2030.
FedEx’s total revenue for 2023 was $90.2 billion, with FedEx Express earning $42.7 billion, which is 47% of the total, and FedEx Ground earning $33.5 billion.
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