Otis is the world's leading manufacturer and servicer of elevators, escalators, and moving walkways, operating in over 200 countries and territories through more than 1,400 branches and offices. The company operates two business segments: New Equipment, which designs, manufactures, and installs these products for residential, commercial, and infrastructure customers, and Service, which provides maintenance, repair, and modernization for a global portfolio of approximately 2.5 million units through 37,000 field mechanics. Service generates the majority of profitability through recurring maintenance contracts and modernization solutions, while New Equipment drives volume growth; the company also offers digital solutions including IoT-enabled remote monitoring and predictive maintenance capabilities on cloud-connected units.