Otis Worldwide Corp

Otis Worldwide Corporation (NYSE: OTIS) is the world's leading elevator and escalator manufacturing, installation, service and modernization company. The company operates through two primary segments: New Equipment, which contributes 35% of net sales and 9% of segment operating profit, and Service, which represents 65% of net sales and 91% of segment operating profit. Otis serves customers across more than 200 countries and territories with a global workforce of approximately 72,000 colleagues, including roughly 45,000 field professionals, distributed across more than 1,400 branches and offices with direct physical presence in over 70 countries.

The New Equipment segment designs, manufactures, sells and installs passenger and freight elevators, escalators and moving walkways for residential, commercial and infrastructure projects. The company offers several elevator platforms including Gen2, Gen3, Gen360 and SkyRise, each tailored to different building heights and customer requirements. The Service segment maintains a portfolio of approximately 2.5 million units globally, providing maintenance, repair and modernization services through its extensive network of service technicians and 24/7 OTISLINE customer support operations.

Otis maintains a robust research and development operation with 11 R&D centers, 16 factories worldwide and 1,300 engineers globally, with particular focus on digital initiatives and the Otis ONE IoT platform for real-time equipment monitoring and predictive maintenance. The company holds approximately 4,600 issued patents across various jurisdictions with roughly 1,300 patent applications pending globally.

International operations represent approximately 71% of net sales, with geographic distribution of 45% in Asia, 34% in Europe, the Middle East and Africa, and 21% in the Americas. The company was incorporated as a Delaware corporation on March 1, 2019 in connection with its separation from United Technologies Corporation, which was completed on April 3, 2020. More information is available at www.otis.com.