Otis Celebrates Five Years as an Independent, Publicly Traded Company

Today, Otis (NYSE: OTIS), the world’s leading elevator and escalator manufacturing, installation and service company, recognizes five strong years as an independent, publicly traded company on the New York Stock Exchange.

“Otis Common Stock Begins Trading on New York Stock Exchange,” was the headline on April 3, 2020. Otis rejoined the Fortune 500 in 2021, and has been recognized on the list since.

Otis continues to advance what’s possible in vertical mobility, demonstrating the agility required to lead its industry by bringing more innovations to life to enhance passenger and customer experiences. 

Otis installations, service and modernization projects have helped turn customer visions into reality, and catalyzed steady growth. The Otis newsroom details many initiatives and projects completed over the years, as well as those we’re looking forward to delivering.

Here are a few business highlights from the past five years:

• Implemented critical disinfection systems for elevator cabs and escalator handrails, as the world navigated the COVID-19 pandemic – guiding and supporting property managers and their tenants about safe passenger travel. Sponsored research about clean air flow in elevator cabs and maintained elevators and escalators as an essential service.
   
• Introduced the Otis flagship community impact program, the Made to Move Communities™ student challenge. Since that launch in 2020, to date, this student competition combined with mentorship from Otis has reached more than 1,000 student participants globally and delivered more than $1 million in grants to support ongoing science, technology, engineering, and mathematics (STEM) education in participating schools worldwide, with the goals of advancing STEM and leadership skills to help build the next generation of talent, ensure future workforce readiness, and sustain innovation.
   
• Unveiled the Gen3™ and Gen360™ digitally native elevator platforms. Building on the proven design and flat-belt technology of Otis’ best-selling Gen2® family of elevators, both platforms provide smooth, quiet rides, safety, durability and energy efficiency, compared to conventional elevators. With Otis ONE™ IoT connectivity built in, these elevator platforms are designed to meet the current needs and future expectations of an increasingly connected world.
   
• Launched the Otis Integrated Dispatch™ API for seamlessly connecting autonomous service robots with Otis elevators, supporting hospitals, hotels and office buildings in their efforts to free up staff for higher-value-added activities.
  
• Expanded product offerings to meet growing demand for elevator and escalator modernization. With more than 8 million of the world’s 22 million elevators approaching the age at which building managers should begin to consider modernization, Otis offers scalable packages designed to help enhance safety, improve reliability and performance, boost sustainability and elevate the passenger experience.
   
• Continued our industry-leading innovation with Otis’ Compass™ Infinity AI-powered dispatching platform that leverages machine learning to automatically tune dispatching parameters to reduce passenger wait times and elevator stops.

In 2023, Otis celebrated the 170th anniversary of its first elevator sale. Elisha Otis’ invention of the safety brake forever changed mobility and the skylines of cities worldwide.

Today Otis moves 2.4 billion people a day and maintains approximately 2.4 million customer units worldwide – the industry's largest Service portfolio – including 1 million connected units worldwide, enabling predictive maintenance and improving equipment uptime.

Since 2020, Otis has received numerous awards and recognitions, including being included on the Fortune Most Admired Companies list since 2022. Otis has also been named one of the World's Most Trustworthy Companies by Newsweek, included by Forbes Magazine as one of the World’s Best Employers and listed among America’s Best-Managed Companies by the Wall Street Journal.

Otis has received 10 Elevator World Project of the Year awards, and recognition from customers around the world. Read about some of our proven expertise in installations that span the globe, including some of the world’s most iconic structures, such as Christ the Redeemer, Eiffel Tower, Empire State Building, One Za’abeel, Shanghai World Financial Center, Statue of Unity and many others.

To learn more about Otis products and services, visit www.otis.com.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry's largest Service portfolio. You’ll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.