Otis Worldwide Corporation
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ROIC.AI
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- Otis Worldwide Corporation manufactures, installs, services, and modernizes elevators, escalators, and moving walkways for residential, commercial, and infrastructure projects worldwide; it offers core elevator platforms including Gen2 machine-roomless systems with coated steel belts, Gen3 digitally connected models featuring larger door openings and energy efficiency upgrades, Gen360 electronic architecture solutions with 360-degree monitoring, and SkyRise high-rise systems; escalators provide heavy-duty and sensor-equipped designs for retail and transit; services encompass preventive maintenance, repairs, modernization packages like GEN3 MOD Plus, and digital tools such as Otis ONE IoT for predictive monitoring, eView in-car displays, Compass 360 destination dispatch, and eCall smartphone apps; founded in 1853 and headquartered in Farmington, Connecticut, Otis operates in over 200 countries with 72,000 employees and a maintenance portfolio of 2.4 million units representing over 60% of sales and 90% of profit. In 2024, Otis completed approximately 30 bolt-on acquisitions for $87 million including Jardine Schindler Lifts in Taiwan and eight U.S. Urban Elevator locations to expand service and modernization; it issued EUR 850 million notes maturing 2026-2031 to refinance debt; launched Gen3 Core elevators and won Red Dot design awards for Smart Cab, accessible buttons, and safety ID cards; advanced UpLift and China transformations delivering $120 million in run-rate savings toward a $230 million 2025 target; and grew service sales 6.8% organically with modernization backlog up 13% amid a 10% global new equipment unit decline led by China.
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