23 Revealing FedEx Statistics, Trends & Facts for 2024

As a long-time analyst and expert in shipping and logistics, I‘ve compiled this definitive guide on key FedEx statistics and facts for 2024. With over 50 years in operation, FedEx continues to dominate package delivery globally thanks to its vast infrastructure and strategic investments.

Over 12 Million Daily Packages and Growing

FedEx Ground handles over 12 million packages daily, cementing its position as the high-volume, deferred shipping solution of choice for ecommerce in the United States. This marks a significant increase from 2021 volumes.

Table 1. FedEx Ground Daily Shipping Volumes

Bolstered by rapid ecommerce growth, expectations are for FedEx Ground’s volumes to expand by 20-25% in 2024. The company has invested billions in facilities and assets to capture demand for affordable ground delivery options.

(Source: FedEx Investor Reports, Forbes analysis)

Now Shipping Over 7 Million Packages Daily from FedEx Express

As the world’s largest express transportation company, FedEx Express moves over 7 million shipments per day globally as of October 2022. This is up considerably from the 4.7 million daily average seen in 2019, indicating the surge in time-sensitive deliveries.

Much of this growth has been driven by booming e-commerce activity across international markets, especially in Europe and Asia. FedEx has strategically developed its international infrastructure, air routes, and inter-regional freight to capitalize on this global demand growth from online shopping.

I expect Express daily volumes to hit 10 million by 2025 based on market trends. FedEx‘s advantages in speed, reliability and coverage position it extremely well to win international and premium domestic shipments.

(Source: FedEx, Wall Street Journal, Forbes projections)

Half a Million Employees Strong

FedEx now employs over 500,000 team members globally to execute its vast shipping operations and serve customers. The majority – around 350,000 – are located in the United States across the company’s 670 facilities and many regional hubs.

Notably, over 7,000 employees are dedicated just to Asia Pacific operations as FedEx continues expanding internationally. The company has developed a well-earned reputation as a good employer, often appearing on “Best Places to Work” lists in multiple geographies.

(Source: FedEx, Fortune)

Table 2. FedEx‘s Global Workforce

I anticipate headcount growing another 15-20% by 2025 as volumes expand dramatically. Becoming a FedEx team member is a great career choice offering good compensation, benefits, training and cultural values.

Nearly $100 Billion in Annual Revenue

For fiscal year 2022 ending May 31, FedEx achieved consolidated revenue of $93.5 billion. This marked a sizable increase over 2021‘s $84 billion total resulting from significant volume growth across operating units.

FedEx continues gaining market share and expanding service offerings. I‘m projecting total revenue to cross the $100 billion threshold in 2024 on robust holiday shipping and international performance. The company should continue seeing high single-digit annual revenue growth thanks to diversification beyond core express delivery.

(Source: FedEx Investor Relations)

Table 3. FedEx Annual Revenue Performance

Driving over 10% annual revenue increases reflects the health and potential of FedEx. As the leader in time-sensitive logistics, it is poised to benefit tremendously from accelerating e-commerce.

World‘s Largest Cargo Air Fleet with Over 700 Planes

Critical to FedEx’s global delivery speed and capabilities is operating the world’s largest cargo air fleet consisting of over 700 aircraft. To put this into perspective, this is nearly double rival UPS‘s fleet and bigger than many commercial passenger airlines.

The majority of recent additions have been mid-size planes like the Airbus A321 and Boeing 767 to connect regional freight. But FedEx continues investing in long-range Boeing 777s and 747s to bolster international capacity and redundancy. It also has a fleet of smaller aircraft critical for last-mile delivery from regional sort facilities.

(Source: FedEx, Airfleets.net)

I expect fleet expansion to continue at a rate of around 2-3% annually to provide delivery flexibility and scale during peak demand. Significantly, FedEx has committed to be carbon neutral by 2040 across all operations.

Holds 34% U.S. Market Share

With expansive infrastructure unmatched by competitors, FedEx has maintained around 34% market share over the past decade for the total U.S. courier and local delivery industry. This includes overnight shipping, freight, ground services and local same-day delivery.

UPS is a distant second at about 22% share, indicating the first-mover and scale advantages built by FedEx. Despite rising competition in verticals like last-mile delivery, the barriers to replicating FedEx’s full network effects and assets ensure its domestic leadership position.

Internationally, DHL and local carriers present greater rivalry. But FedEx‘s brand equity with U.S. companies, customs expertise and transit speeds give it an edge in global high-value express shipping.

(Source: IBISWorld, Forbes)

The next 10 years likely see an acceleration across logistics verticals with surging e-commerce volumes and customer experience demands. Thanks to aggressive investments in future-forward technologies like automation and analytics, I expect FedEx to retain 30%+ market share leadership.

From surging volumes across operating units to major infrastructure and workforce expansion, FedEx is poised for tremendous continued success into 2023 and beyond.

As the shipping and logistics leader, it has proven adept at evolving with global transportation demands. Expect FedEx to leverage its technological capabilities and network scale to deliver solutions underpinning the growth of e-commerce and cross-border trade worldwide.

Let me know if you need any additional FedEx statistics or industry perspectives to consider. I would be happy to build on this 2023 snapshot.