Amazon.com Inc worldwide consumer business CEO Dave Clark sees the company become the most significant U.S. package delivery service by 2022, CNBC reports. Clark sees Amazon overtaking longstanding shipping rivals United Parcel Service Inc and FedEx Corp.
Amazon has been steadily building up vast logistics and fulfillment operations since a 2013 holiday debacle left its packages stranded in the hands of outside carriers.
Amazon oversees thousands of last-mile delivery companies that deliver packages exclusively for Amazon and a budding in-house network of planes, trucks, and ships.
Amazon has also dotted the country with warehouses and air hubs that can speed along packages.
Analysts and investors have long predicted that Amazon’s tools would enable Amazon to rival significant carriers like UPS, FedEx, and the U.S. Postal Service.
Price Action
Amazon shares closed 1.63 percent higher at $3,561.57 on the last check Monday.By Anusuya Lahiri
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