Otis Worldwide is an elevator and escalator manufacturing, installation and service company. Co.'s segments are: New Equipment, which designs, manufactures, sells and installs passenger and freight elevators, as well as escalators and moving walkways for residential, commercial and infrastructure projects; and Service, which performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. Co.'s services include inspections, preventive maintenance offerings and other maintenance offerings to meet customer needs. Co. also provides customers with repair services to address equipment and component wear and tear, as well as breakdowns.