Elevator giant Otis wants to be a defensive play in an volatile market. It has to prove itself first

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Inside a 28-story testing tower erected in the middle of the suburban town of Bristol, Connecticut, Otis engineers run elevator parts through dust chambers, humidity cells and saltwater fog machines.

"[Elevators] are supposed to work in the extreme conditions of the world. Whether it's the desert or the Arctic," said Haran Vela, senior vice president of engineering for Otis. "We try to simulate all of those conditions in this facility so that we know that our designs will work in the real environment."

Otis

is the largest elevator company in the world, operating in 200-plus countries. In 2025, the company generated more than $14 billion in revenue — up roughly 13% since it spun off from United Technologies in 2020.