Otis Worldwide Research and Development Expenses 2019-2023 | OTIS
Otis Worldwide annual/quarterly research and development expenses history and growth rate from 2019 to 2023. Research and development expenses can be defined as an expense arising from studies and product development processes.
- Otis Worldwide research and development expenses for the quarter ending December 31, 2023 were $0.037B, a 2.63% decline year-over-year.
- Otis Worldwide research and development expenses for the twelve months ending December 31, 2023 were $144M, a 4% decline year-over-year.
- Otis Worldwide annual research and development expenses for 2023 were $0.144B, a 4% decline from 2022.
- Otis Worldwide annual research and development expenses for 2022 were $0.15B, a 5.66% decline from 2021.
- Otis Worldwide annual research and development expenses for 2021 were $0.159B, a 4.61% increase from 2020.
Otis Worldwide Annual Research and Development Expenses
(Millions of US $) |
| 2023 |
$144 |
| 2022 |
$150 |
| 2021 |
$159 |
| 2020 |
$152 |
| 2019 |
$163 |
| 2018 |
$181 |
Otis Worldwide Quarterly Research and Development Expenses
(Millions of US $) |
| 2023-12-31 |
$37 |
| 2023-09-30 |
$36 |
| 2023-06-30 |
$36 |
| 2023-03-31 |
$35 |
| 2022-12-31 |
$38 |
| 2022-09-30 |
$37 |
| 2022-06-30 |
$38 |
| 2022-03-31 |
$37 |
| 2021-12-31 |
$46 |
| 2021-09-30 |
$39 |
| 2021-06-30 |
$39 |
| 2021-03-31 |
$35 |
| 2020-12-31 |
$40 |
| 2020-09-30 |
$37 |
| 2020-06-30 |
$37 |
| 2020-03-31 |
$38 |
| 2019-12-31 |
$45 |
| 2019-09-30 |
$39 |
| 2019-06-30 |
$40 |
| 2019-03-31 |
$39 |
| 2018-12-31 |
|
| Sector |
Industry |
Market Cap |
Revenue |
| Construction |
Building & Construction Products - Misc. |
$38.217B |
$14.209B |
|
Otis Worldwide Corp. is one of the leading elevator and escalator manufacturing, installation and service provider to commercial, housing associations, government associations, etc. Otis has expanded business in multiple countries across the world in more than 1,400 branches and offices. Raytheon Technologies Corp. completed the tax-free spin-off of Otis Worldwide Corp and Carrier Global Corp. It has 2 reporting segments: New Equipment & Service. The New Equipment segment manufactures, sells and installs a wide range of passenger and freight elevators, escalators and moving walkways for residential, commercial and infrastructure projects. It has developed a range of elevator and escalator solutions, including Gen360 elevator & Gen2 system. The Service segment performs maintenance & repair and modernization services to upgrade elevators, and escalators. It has a maintenance portfolio of more than 2 million units throughout the globe. Otis provides maintenance services to other manufacturers.
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