Otis: Modernisation Demand and Service Growth Underpin Positive Outlook

Otis is the largest player in the global elevator and escalator industry, operating within a mature, consolidated, and structurally attractive market. The company generates more than 60% of its revenue—and the majority of its profits—from its services business, which benefits from the world’s largest installed base. This entrenched position underpins stable revenue, high margins, and recurring cash flows.