Otis Worldwide Corp - Company Profile
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Otis Worldwide Corp (Otis) is a manufacturer of people moving products, specializing in manufacturing, installation, service, and modernization. The company's main activities include designing and producing passenger and freight elevators, escalators, and moving walkways. The company offers remote elevator monitoring (REM) systems to detect elevator problems and to monitor, control, and report elevator operational functions. Otis serves to commercial and residential properties. Notable brands associated with Otis include Gen2, Gen3, Gen360, and SkyRise elevator platforms. Otis serves a diverse customer base, including real estate developers, government agencies, building owners, and facility managers across residential, commercial, and infrastructure sectors. The company carries out its operations through its subsidiaries and offices across China, Vietnam, Thailand, Australia, Spain, France, Argentina, and other countries. Otis is headquartered in Farmington, Connecticut, the US.
Headquarters
United States of America
Address
1 Carrier Place, Farmington, Connecticut, 06032
Website
www.otis.com
Telephone
1 860 6766000
No of Employees
72,000
Industry
Industrial Goods and Machinery
Ticker Symbol & Exchange
OTIS (NYSE)
Revenue (2024)
$14.4B
1.2%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
-15.9%
(2024 vs 2023)
Market Cap*
$27.2B
Net Profit Margin (2024)
XYZ
-16.8%
(2024 vs 2023)
* As of and is in US$
Otis Worldwide Corp premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Elevators | Otis Signature Service |
| Moving Walkways | Monitoring Services |
| Escalators | Maintenance Solutions |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2026 | Acquisitions/Mergers/Takeovers | In April, the company acquired a majority stake in WeMaintain, a technology-enabled service company for the elevator and escalator industry. |
| 2026 | New Products/Services | In April, the company launched a new heavy-duty elevator range engineered to meet the growing demand of multi-story data centers and other essential infrastructure. |
| 2026 | Contracts/Agreements | In March, the company partnered with China Development Research Foundation to educate and develop the next generation of elevator service professionals in China. |
Competitor Comparison
| Key Parameters | Otis Worldwide Corp | Johnson Controls International Plc | Schindler Holding Ltd | KONE Corp | Kleemann Hellas SA |
|---|---|---|---|---|---|
| Headquarters | United States of America | Ireland | Switzerland | Finland | Greece |
| City | Farmington | Cork | Hergiswil | Espoo | Kilkis |
| State/Province | Connecticut | - | Nidwalden | - | Central Macedonia |
| No. of Employees | 72,000 | 87,000 | 67,315 | 64,663 | 1,755 |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Judith F. Marks | Chief Executive Officer; President; Chairman | Executive Board | 2022 | 62 |
| Cristina Mendez | Executive Vice President; Chief Financial Officer | Senior Management | 2024 | 45 |
| Enrique Minarro Viseras | Chief Operating Officer | Senior Management | 2026 | 48 |
| Michael P. Ryan | Senior Vice President; Chief Accounting Officer | Senior Management | 2020 | 56 |
| Randi Tanguay | Chief Communications Officer; Senior Vice President | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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