Otis Worldwide Corp

Otis is the world's leading elevator and escalator manufacturing, installation, service, and modernization company, serving customers in over 200 countries and territories. Otis operates with a global scale and local focus, maintaining more than 1,400 branches and offices, and a direct physical presence in over 70 countries. The company is organized into two segments: New Equipment and Service. For 2025, the New Equipment segment contributed 35% of net sales and 9% of segment operating profit, while the Service segment contributed 65% of net sales and 91% of segment operating profit. International operations accounted for approximately 71% of net sales in 2025. Through its New Equipment segment, Otis designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways for residential, commercial, and infrastructure projects. Customers for New Equipment include real estate and building developers, general contractors, and government agencies involved in infrastructure projects like airports, railways, or metros. Sales are generally direct, though augmented by agents and distributors in China and other geographies. Otis is not dependent on any single customer or agent/distributor. New Equipment customers typically engage early in the construction cycle, with elevator installation usually occurring midway through building construction.