Otis Worldwide Corp. OTIS

What this company does

Otis manufactures, installs, services and modernizes elevators and escalators. It serves customers in over 200 countries and territories, operating from more than 1,400 branches and offices with a direct physical presence in more than 70 countries. The company is organized into two segments, New Equipment and Service, which accounted for 35% and 65% of net sales, respectively, for 2025. Through its New Equipment segment, it designs, manufactures, sells and installs passenger and freight elevators, as well as escalators and moving walkways, for residential, commercial and infrastructure projects. Through its Service segment, it performs maintenance, repair and modernization services for elevators and escalators, maintaining a portfolio of approximately 2.5 million units worldwide that includes equipment from other manufacturers. It provides these services through a global network of 37,000 Service mechanics. Otis is a Delaware corporation, incorporated on March 1, 2019 in connection with its separation from United Technologies Corporation, later renamed RTX Corporation, a separation that became effective on April 3, 2020.

Written from the business description in OTIS WORLDWIDE CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 5 February 2026. Every sentence was checked against that document before publication.