Overview
Otis Worldwide Corporation is a global elevator and escalator company. It designs, manufactures and installs elevators, escalators and moving walkways, and provides maintenance, repair and modernization services for existing equipment. Its operations are organized around New Equipment and Service, with a service portfolio of approximately 2.5 million units worldwide.[1][2]
Otis serves customers in more than 200 countries and territories and has a direct presence in more than 70 countries. It describes its mission as being a customer-centric, service-oriented company. In 2025, it reported $14.4 billion in net sales and employed approximately 72,000 people, including about 45,000 field professionals.[3][4][5][6] [1][2][3][4][5][6]
Products & services
Otis’s elevator products include Gen2 for low- and mid-rise buildings and its successor, Gen3, which adds Otis ONE connectivity and additional safety features to Gen2’s space-saving, energy-efficient design. Gen360 uses an electronic architecture that replaces many mechanical components, allows larger cabins within the hoistway and provides an in-ceiling platform for maintenance from inside the car; optional hoistway cameras support remote diagnosis. SkyRise is designed for high-rise buildings.[7][8][9][10]
Otis also supplies escalators and moving walkways, including sensor-equipped models that operate when passengers approach or slow down when idle. Its Compass 360 destination-management system assigns passengers to elevator cars based on their destinations. Otis ONE connects elevators to the cloud for real-time equipment monitoring and predictive and remote maintenance.[11][12][13]
Services include maintenance, repair and modernization. Modernization can range from aesthetic updates to replacement of major components and subsystems; the GEN3 MOD Plus offering includes built-in Otis ONE connectivity. In 2025, New Equipment accounted for approximately 34.6% of segment net sales ($4.99 billion), while Service accounted for 65.4% ($9.44 billion); these are segment shares, not revenue shares for individual products.[2][14][15][16] [7][8][9][10][11][12][13][2][14][15][16][16][16]
Geographic presence
Otis Worldwide has a direct presence in more than 70 countries and serves customers in over 200 countries and territories. Its operations are distributed across the Americas, Europe, the Middle East and Africa (EMEA), and Asia. International operations accounted for approximately 71% of net sales in 2025.[17][18][19]
Otis had approximately 2,300 facilities in 2025: 47% in EMEA, 40% in Asia and 13% in the Americas. It also had more than 1,400 branches and offices. Of its approximately 72,000 employees, 45% were in Asia, 34% in EMEA and 21% in the Americas.[17][6]
China is a significant New Equipment market for Otis: it accounted for approximately one-fifth of that segment’s global sales and more than half of its global unit volume in 2025. Those figures describe the New Equipment segment, not China’s share of Otis’s total revenue.[20] [17][18][19][6][20]
Business segments
Otis Worldwide reports two business segments: New Equipment and Service. New Equipment designs, manufactures, sells and installs elevators, escalators and moving walkways. Service maintains and repairs Otis and other manufacturers’ equipment and modernizes existing elevators and escalators.[21][22]
In 2025, New Equipment generated $4.989 billion, approximately 35% of segment revenue, while Service generated $9.442 billion, approximately 65%. Within Service, maintenance and repair accounted for $7.584 billion, or about 80% of Service revenue; modernization accounted for $1.858 billion, or about 20%.[23][24] [21][22][23][23][23][24][24]
Company history
Otis established two joint ventures in China, Otis Electric in 1997 and Otis China in 1998.[25] On April 3, 2020, it separated from United Technologies Corporation and began trading as an independent public company.[26] In 2022, Otis acquired the remaining shares of Spanish elevator company Zardoya Otis, bringing it under full ownership and renaming it Otis Mobility.[27] [25][26][27]
Sources
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