Otis Worldwide Corporation
name
Otis Worldwide Corporation
id
OTIS
summary
Otis Worldwide Corporation, also known as Otis Elevator Company, is an American company that develops, manufactures, and markets elevators, escalators, moving walkways, and related equipment. It is the world's largest manufacturer of vertical transportation systems, focusing primarily on elevators, moving walkways, and escalators. The company was founded by Elisha Otis in 1853 and is headquartered in Farmington, Connecticut, U.S. Otis pioneered the development of the 'safety elevator' in 1852, which used a special mechanism to lock the elevator car in place should the hoisting ropes fail. Acquired by United Technologies in 1976, Otis was spun off as an independent company in April 2020. It operates worldwide and had a revenue of US$14.21 billion in 2023.