What is FedEx’s market share? (2025 analysis)
FedEx holds approximately 33% of U.S. courier and local delivery revenue as of 2024, handling roughly 19% of total parcel volume, according to the latest ShipMatrix and industry data. Globally, FedEx commands an estimated 7% share of courier revenue, positioning it as the world’s third-largest parcel carrier by revenue behind UPS and DHL. However, FedEx’s market position faces pressure from Amazon Logistics’ rapid expansion and private retail delivery networks.
Numbers at a glance
- 33% U.S. courier & local delivery revenue share (2024)
- 19% U.S. parcel volume market share (2024)
- $88B FedEx total revenue (fiscal 2024)
- 9.7M average daily parcel volume (2024)
- 7% estimated global courier revenue share
- 3.4B total packages delivered annually (2024)
- -2% year-over-year revenue decline (2023-2024)
U.S. Courier Market Share by Revenue (2024)
FedEx holds the #2 position in U.S. courier revenue, trailing UPS by just 4 percentage points
How market share is calculated in the courier/express/parcel industry
Market share in the courier, express, and parcel (CEP) sector gets measured through multiple lenses, each telling a different story about competitive positioning.
Revenue vs parcel volume vs shipment count
Revenue share reflects the dollar value of services provided—typically higher for premium express and international shipments. Volume share counts individual packages regardless of service level or price. Shipment count may include multi-piece orders as single transactions.
Data sources and methodology
Primary market-share figures come from ShipMatrix’s annual parcel market analysis, Pitney Bowes Global Parcel Shipping Index, and company SEC filings. ShipMatrix tracks parcel flows through major carriers using proprietary algorithms and shipper surveys. Pitney Bowes combines carrier-reported data with third-party research.
Limitations in market measurement
Private fleets operated by Amazon, Walmart, and Target increasingly handle their own deliveries, creating measurement challenges. These “captive” networks don’t report public volume figures, requiring analysts to estimate their impact on traditional carrier market shares.
FedEx market share by geography
United States
FedEx commands the second-largest share of U.S. courier revenue behind UPS, but trails significantly in parcel volume due to its premium service mix.
Revenue share (2024 estimates)
- UPS: 37% ($59.8B revenue)
- FedEx: 33% ($48.2B U.S. revenue)
- USPS: 16% ($32.5B revenue)
- Amazon Logistics: 12% ($24.7B revenue)
- Other carriers: 2%
Parcel volume share (2024 estimates)
- USPS: 31% (7.4B packages)
- UPS: 24% (5.7B packages)
- FedEx: 19% (4.5B packages)
- Amazon Logistics: 15% (3.6B packages)
- Private fleets & regional: 11% (2.6B packages)
Carrier Revenue vs Volume Share
Revenue Share
Volume Share
Key Insight: FedEx generates 33% of courier revenue with only 19% of parcel volume—evidence of its premium service positioning and higher revenue per package compared to competitors.
North America expansion
In Canada, FedEx holds roughly 15% of express courier revenue, competing primarily with UPS (25%) and Canada Post (35%). Mexico represents a smaller but growing market where FedEx maintains approximately 8% revenue share.
Europe
European operations contribute significantly less to FedEx’s global footprint. The company holds an estimated 4% share of European express revenue, well behind DHL (45%), UPS (12%), and national postal services. FedEx’s European strategy focuses on international express rather than domestic parcel networks.
Asia-Pacific
FedEx maintains strength in Asia-Pacific express air cargo, holding roughly 12% of international express revenue. However, domestic parcel market penetration remains limited, with local carriers like SF Express dominating regional volume.
Global market position
Combining all regions, FedEx’s global courier revenue share sits at approximately 7%, behind UPS (11%) and DHL (15%). This reflects FedEx’s premium positioning and concentration in North American markets.
FedEx vs key competitors – head-to-head comparison
FedEx vs UPS
The two American logistics giants compete directly across most service categories, with UPS maintaining revenue leadership.
Fiscal 2024 financials:
- UPS revenue: $91.0B (down 3.1% YoY)
- FedEx revenue: $87.7B (down 2.4% YoY)
Network comparison:
- UPS operates 4,800 facilities globally vs FedEx’s 3,200+
- FedEx maintains larger air fleet (650+ aircraft vs UPS’s 280+)
- UPS handles more ground volume; FedEx leads in express air
FedEx vs Amazon Logistics
Amazon’s delivery network represents FedEx’s fastest-growing competitive threat, expanding from 1.7B packages in 2019 to 6.1B in 2024.
2024 volume comparison:
- Amazon Logistics: 6.1B packages annually
- FedEx: 3.4B packages annually
Strategic differences:
- Amazon focuses on last-mile delivery for its own products
- FedEx serves external customers across all service tiers
- Amazon’s growth directly reduces addressable market for traditional carriers
FedEx vs USPS
The U.S. Postal Service leads in parcel volume but generates significantly lower revenue per package.
Market position:
- USPS: 31% volume share, 16% revenue share
- FedEx: 19% volume share, 33% revenue share
Service differentiation:
- USPS dominates lightweight, low-value parcels
- FedEx captures premium express and B2B shipments
FedEx vs DHL
Internationally, DHL’s European strength contrasts with FedEx’s North American dominance.
Global express market:
- DHL: ~15% global courier revenue
- FedEx: ~7% global courier revenue
Geographic split:
- DHL leads in Europe, Asia-Pacific international
- FedEx dominates North American express
Historical trend: 2019-2024 FedEx market share
FedEx’s market position has faced headwinds from Amazon’s logistics expansion and overall industry disruption.
Revenue trend (fiscal years)
| Year | FedEx Revenue | U.S. Market Share (Est.) | Key Market Event |
|---|---|---|---|
| 2019 | $72B | 35% | Pre-pandemic baseline |
| 2020 | $69B | 32% | COVID-19 volume surge, margin pressure |
| 2021 | $84B | 36% | E-commerce boom, pricing power |
| 2022 | $93B | 35% | Peak revenue, inflation impacts |
| 2023 | $90B | 34% | Economic slowdown, volume decline |
| 2024 | $88B | 33% | Amazon competition intensifies |
FedEx Revenue & Market Share Trend (2019-2024)
Volume share decline
While total U.S. parcel volume grew 50% from 2019-2024 (15.8B to 23.8B packages), FedEx’s share contracted as Amazon Logistics and private fleets captured incremental growth.
FedEx volume trajectory:
- 2019: ~20% U.S. parcel share
- 2021: ~21% U.S. parcel share
- 2024: ~19% U.S. parcel share
Factors influencing FedEx’s market share
E-commerce growth and service mix
The pandemic-driven e-commerce surge initially benefited FedEx, but subsequent normalization and Amazon’s delivery network expansion reduced growth opportunities. FedEx’s premium express services generate higher revenue per package but lower volume share.
Last-mile competition from regional carriers
Regional carriers like OnTrac, LaserShip, and Veho have captured market share in specific corridors, offering lower-cost alternatives for B2C deliveries. These carriers collectively handle an estimated 3% of U.S. parcel volume.
Amazon’s in-house fleet expansion
Amazon Logistics’ explosive growth—from 1.7B packages (2019) to 6.1B packages (2024)—directly reduces the total addressable market for FedEx and traditional carriers. Amazon now handles 26% of its own deliveries.
Operational changes: Network 2.0
FedEx’s ongoing “Network 2.0” initiative consolidates Ground and Express operations to reduce costs and improve efficiency. Early results show cost savings but potential service disruptions during the transition period.
Macro economy and B2B/B2C mix
Economic uncertainty affects B2B shipping volumes, where FedEx traditionally holds stronger market position. Consumer shipping growth has slowed from pandemic peaks, pressuring volume-based market share.
2025-2028 outlook and forecasts
Industry growth projections
Pitney Bowes projects global parcel volume will reach 225 billion packages by 2028, representing 6% compound annual growth. U.S. market growth is expected to moderate to 4% annually through 2027.
FedEx strategic positioning
FedEx’s “Drive, Compete, Grow” strategy emphasizes:
- Network consolidation through DRIVE program
- Competitive pricing and service reliability
- Growth in international express and e-commerce solutions
Market share scenarios (2028 projections)
Bull case (35% U.S. revenue share):
- Successful Network 2.0 execution
- Premium service differentiation
- International expansion success
Base case (32% U.S. revenue share):
- Continued Amazon competition
- Moderate economic growth
- Market share stability
Bear case (29% U.S. revenue share):
- Aggressive regional carrier expansion
- Amazon Logistics serves external customers
- Economic recession reduces B2B volumes
FedEx Market Share Scenarios: 2028 Projections
Key Variables: FedEx’s 2028 market position will largely depend on Network 2.0 execution success, Amazon’s strategic decisions around third-party logistics services, and the broader economic environment affecting B2B shipping demand.
Frequently asked questions
Who has bigger market share, UPS or FedEx?
UPS leads with 37% of U.S. courier revenue versus FedEx’s 33%. UPS also handles more total parcel volume annually.
What percentage of U.S. parcel deliveries does FedEx handle?
FedEx handles approximately 19% of U.S. parcel volume, delivering 3.4 billion packages annually in 2024.
Is FedEx gaining or losing market share in 2024?
FedEx lost modest market share in 2024, declining from 34% to 33% of U.S. courier revenue as Amazon Logistics and regional carriers expanded.
How is FedEx’s global market share different from its U.S. share?
Globally, FedEx holds approximately 7% of courier revenue versus 33% in the U.S., reflecting its North American market concentration.
What is FedEx’s share of the express air cargo market?
FedEx commands roughly 25% of U.S. express air cargo revenue, leveraging its extensive aircraft fleet and overnight delivery network.
How has Amazon Logistics impacted FedEx’s market share?
Amazon’s delivery network growth from 1.7B to 6.1B packages (2019-2024) has directly reduced the addressable market for FedEx and other traditional carriers.
What factors influence market share calculations in shipping?
Market share varies significantly between revenue-based and volume-based measurements, with premium carriers like FedEx showing higher revenue shares than volume shares.
Which year did FedEx reach its highest market share?
FedEx achieved peak U.S. revenue share around 2021 (36%) during the e-commerce boom, before Amazon’s logistics expansion accelerated.
Sources & methodology
- ShipMatrix 2024 Parcel Market Report — U.S. parcel volume and carrier market share data
- Supply Chain Dive Market Analysis— 2024 market share trends and competitive analysis
- Pitney Bowes 2023 Global Parcel Shipping Index — Historical market data and global projections
- Statista Courier Market Statistics — FedEx revenue trends and industry comparisons
- FreightWaves Industry Analysis — Market share erosion to private fleets and regional carriers
