Otis Worldwide Corp (Otis) manufactures elevators, escalators, and moving walkways. It designs, manufactures, and installs a wide range of passenger and freight elevators for low, medium, and high-speed applications. It operates in over 200 countries and territories, with a direct physical presence in more than 70 countries and 2,300 facilities, which are located in EMEA, Asia, and the Americas, respectively. Otis serves a diverse range of industries, including residential, commercial, retail, and infrastructure projects, such as airports, railways, and metros.

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Otis undertakes R&D initiatives that focus on product development and innovation, including digital features, enhancements to current elevator and escalator systems, and the development of next-generation products. The company coordinates its R&D efforts globally through an operating model that sets global and local priorities based on customer and segment needs. The company has a portfolio of patents, trademarks, copyrights, trade secrets, licenses, and franchises to protect its R&D investments in products and services. The R&D unit of Otis is responsible for coordinating global R&D efforts, setting priorities based on customer and segment needs, and developing engineering solutions that can serve as global model products while adapting to local customer needs and trends. Otis has 11 R&D centers and owns approximately 4,600 patents, with around 1,300 patent applications pending globally. The company filed approximately 900 patent applications in the last three years. In FY2025, the company spent US$152 million on R&D, which as a percentage of revenue stood at 1.1%.