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Otis - net sales 2009-2019

Otis Elevator Company generated net sales of around 13 billion U.S. dollars in 2019. The UTC company is the world's largest manufacturer of vertical transportation systems.

Elevating the industry

Continuing development of high-rise buildings supports a steady elevator business. Escalators are also an important part of modern infrastructure being utilized in airports and metros which bring in lucrative maintenance contracts. Competition in the industry is driven by growing demand for more technologically advanced systems. Efficiency and smart technology are key research segments companies such as UTC contend in. More reliable products and early warning systems are important in reducing the number of injuries caused on elevators and escalators. Many escalators often fail because of overcapacity but most injuries are not caused by technical malfunction. Common practice on escalators is to stand on one side, letting faster persons walk up the other. However, this puts stress on one side of the escalator and causes premature failure. The London Underground attempted to change practice. Although increasing capacity, it was very unpopular and the idea was not taken further.

Otis Elevator Company's net sales from FY 2009 to FY 2019

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Source

Release date

February 2020

Region

Worldwide

Survey time period

FY 2009 to FY 2019

Supplementary notes

The figures for 2009 through 2016 were taken from previous financial statements.
The values have been rounded.

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Statistics on "Material handling: elevators & escalators"

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