Otis New Equipment Project Wins Industry Award
Otis (NYSE: OTIS) announced that its Incheon International Airport project won Elevator World's annual Project of the Year award in the Moving Walks category on Dec. 5, 2025.
Rhea-AI Summary
Otis (NYSE: OTIS) announced that its Incheon International Airport project won Elevator World's annual Project of the Year award in the Moving Walks category on Dec. 5, 2025. The work supported the newly extended Terminal 2 and involved installing 172 units from 2021–2024: 20 elevators, 80 escalators and 72 moving walks.
The installation included moving walks of 125 meters and two of 136 meters — described as Asia's longest continuous moving walks — using a synchronized dual-motor solution; the longest was fully factory-assembled and passed multiple on-site quality tests. Since 2001 Otis Korea has installed 650 total units across the airport. The project will be featured in Elevator World's January 2026 edition.
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News Market Reaction – OTIS
In the Dec 5 session, OTIS declined 0.53%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Passenger capacity
- 106 million passengers annually
- Target capacity for Incheon International Airport mega air hub
- Total units installed
- 172 elevators, escalators and moving walks
- Incheon Terminal 2 expansion between 2021 and 2024
- Elevators installed
- 20 elevators
- Part of 172-unit Otis installation at Incheon Terminal 2
- Escalators installed
- 80 escalators
- Part of 172-unit Otis installation at Incheon Terminal 2
- Moving walks installed
- 72 moving walks
- Part of 172-unit Otis installation at Incheon Terminal 2
- Moving walk length
- 125 meters
- Length of installed moving walks at Incheon project
- Longest moving walks
- 136 meters
- Asia's longest continuous moving walks at Incheon
- Total units since 2001
- 650 elevators, escalators and moving walks
- Cumulative Otis installations at Incheon International Airport
Historical Context
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Incheon airport project won Elevator World Project of the Year.
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Expanded Gen3 Core elevator line with larger cabs and capacity.
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Declared quarterly dividend of $0.42 per share with Dec 5 payment.
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Reported Q3 2025 results and raised midpoint of EPS outlook.
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Secured 169 high-speed elevators for Hyderabad luxury projects.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
dual-motor solution technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Project at Incheon International Airport,
The Incheon International Airport project received the honor in the Moving Walks category. The airport has been expanding its capacity for passengers and cargo to create a global mega air hub able to handle the safe movement and transport of 106 million passengers annually.
As part of the construction project to deliver a newly extended Terminal 2, between 2021 and 2024, Otis Elevator Korea installed a total of 172 elevators, escalators and moving walks in the expanded terminal – 20 elevators, 80 escalators and 72 moving walks.
The Otis teams had to plan and deliver the installation meticulously to carefully thread work safely and efficiently around the many elements and stakeholders involved in the reconstruction of this huge infrastructure project. With rigorous project management and effective communication with all stakeholders, they successfully met the complex construction schedules.
The installation included moving walks measuring 125 meters, and two that measure 136 meters. These are
Since Incheon International Airport's official opening in 2001, Otis Korea has installed a total of 650 elevators, escalators and moving walks across the airport, providing safe and comfortable rides for many millions of airport visitors and better access for people of all ages and abilities.
The project will be featured among other winners in Elevator World's January 2026 magazine edition.
- Learn more about Otis' contribution at Incheon International Airport.
- Learn more about Otis major projects and modernizations at the Otis Global Projects page.
About Otis
Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in
Media contact: Richard Howat, +44 7392860548, richard.howat@otis.com
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SOURCE Otis Worldwide Corporation