Otis Worldwide

Otis benefits from multiple reinforcing advantages. The core moat is an unmatched service footprint with approximately 2.4 million units under maintenance, which drives route density, parts availability, technician experience, and local efficient scale.

This creates switching costs for building owners tied to safety, uptime, and regulatory compliance. Brand and installed base also support modernization wins. Risks to moat durability include prolonged price aggression from Chinese OEMs in New Equipment, increased openness of controllers reducing lock‑in, and regulatory scrutiny in certain markets.

Still, the Service-led model, modernization backlog growth, and ongoing digital diagnostics (Otis ONE) deepen customer stickiness and margin resilience.