AG˹ٷ

STOCK TITAN

Otis Chosen to Help Connect Singapore on Cross Island Line Phase 1 and Punggol Extension

Rhea-AI Impact
(High)
Rhea-AI Sentiment
(Positive)

Otis (NYSE: OTIS), the global leader in elevator and escalator solutions, has secured a significant contract with Singapore's Land Transport Authority (LTA) for the new Cross Island Line project. The company will provide 336 heavy-duty escalators and moving walkways, along with 186 Gen3� elevators for Singapore's longest fully underground MRT line.

The Cross Island Line will connect major hubs including the Jurong Lake District, Punggol Digital District, and Changi regions. The project will utilize Otis' advanced technology, including the Gen3 connected elevator platform integrated with the Otis ONE� IoT digital platform for real-time monitoring and predictive maintenance. Otis currently moves 2.4 billion people daily and maintains approximately 2.4 million customer units worldwide.

Otis (NYSE: OTIS), leader mondiale nelle soluzioni per ascensori e scale mobili, ha ottenuto un importante contratto con la Land Transport Authority (LTA) di Singapore per la nuova Cross Island Line. L'azienda fornirà 336 scale mobili e tapis roulant pesanti e 186 ascensori Gen3� per la più lunga linea MRT completamente sotterranea di Singapore.

La Cross Island Line collegherà snodi principali come il Jurong Lake District, il Punggol Digital District e l'area di Changi. Il progetto sfrutterà la tecnologia avanzata di Otis, inclusa la piattaforma connessa Gen3 integrata con la piattaforma IoT Otis ONE� per monitoraggio in tempo reale e manutenzione predittiva. Otis trasporta attualmente 2,4 miliardi di persone al giorno e gestisce circa 2,4 milioni di unità cliente nel mondo.

Otis (NYSE: OTIS), líder mundial en soluciones de ascensores y escaleras mecánicas, ha conseguido un contrato importante con la Land Transport Authority (LTA) de Singapur para la nueva Cross Island Line. La compañía suministrará 336 escaleras mecánicas y pasillos móviles pesados y 186 ascensores Gen3� para la línea MRT totalmente subterránea más larga de Singapur.

La Cross Island Line conectará centros clave como Jurong Lake District, Punggol Digital District y la zona de Changi. El proyecto empleará la tecnología avanzada de Otis, incluida la plataforma conectada Gen3 integrada con la plataforma digital IoT Otis ONE� para monitorización en tiempo real y mantenimiento predictivo. Otis mueve actualmente a 2,4 mil millones de personas al día y mantiene aproximadamente 2,4 millones de unidades de clientes en todo el mundo.

Otis (NYSE: OTIS), 엘리베이� � 에스컬레이터 솔루� 분야� 글로벌 선도 기업� 싱가포르 교통�(LTA)� 신규 Cross Island Line 프로젝트� 대� 주요 계약� 체결했습니다. � 회사� 336대� 중장� 에스컬레이터 � 무빙워크186대� Gen3� 엘리베이�� 싱가포르에서 가� � 완전 지� MRT 노선� 제공� 예정입니�.

Cross Island Line은 Jurong Lake District, Punggol Digital District, Changi 지� � 주요 허브� 연결합니�. � 프로젝트에는 실시� 모니터링� 예측 유지보수� 위한 Otis ONE� IoT 디지� 플랫�� 통합� Gen3 연결� 엘리베이� 플랫� � Otis� 첨단 기술� 적용됩니�. Otis� 현재 하루 24� �� 이동시키� � 세계적으� � 240� 고객 유닛� 유지 관리하� 있습니다.

Otis (NYSE: OTIS), leader mondial des solutions d'ascenseurs et d'escalators, a obtenu un contrat important avec la Land Transport Authority (LTA) de Singapour pour le nouveau projet Cross Island Line. L'entreprise fournira 336 escalators et trottoirs roulants lourds ainsi que 186 ascenseurs Gen3� pour la plus longue ligne MRT entièrement souterraine de Singapour.

La Cross Island Line reliera des pôles majeurs tels que Jurong Lake District, Punggol Digital District et la région de Changi. Le projet exploitera la technologie avancée d'Otis, y compris la plateforme d'ascenseurs connectés Gen3 intégrée à la plateforme numérique IoT Otis ONE� pour la surveillance en temps réel et la maintenance prédictive. Otis transporte actuellement 2,4 milliards de personnes par jour et assure la maintenance d'environ 2,4 millions d'unités clients dans le monde.

Otis (NYSE: OTIS), der weltweit führende Anbieter von Aufzug- und Rolltreppenlösungen, hat einen bedeutenden Auftrag von der Land Transport Authority (LTA) Singapur für die neue Cross Island Line erhalten. Das Unternehmen wird 336 robuste Rolltreppen und Laufbänder sowie 186 Gen3�-Aufzüge für die längste vollständig unterirdische MRT-Linie Singapurs liefern.

Die Cross Island Line wird wichtige Knotenpunkte wie Jurong Lake District, Punggol Digital District und das Changi-Gebiet verbinden. Das Projekt nutzt Otis� Spitzentechnologie, darunter die vernetzte Gen3-Plattform, integriert mit der Otis ONE� IoT-Digitalplattform für Echtzeitüberwachung und vorausschauende Wartung. Otis befördert derzeit 2,4 Milliarden Menschen täglich und betreut weltweit rund 2,4 Millionen Kundeneinheiten.

Positive
  • Secured major infrastructure contract for Singapore's longest underground MRT line
  • Demonstrates strong market position in Singapore with previous installations across multiple MRT lines
  • Implementation of advanced IoT technology for predictive maintenance and improved reliability
  • Project strengthens Otis' presence in the high-growth Southeast Asian market
Negative
  • None.

Insights

Otis secures major Singapore transit contract for 522 units, boosting APAC market position and recurring service revenue potential.

Otis has secured a significant infrastructure contract with Singapore's Land Transport Authority (LTA) to supply 336 heavy-duty escalators/moving walkways and 186 Gen3� elevators for the Cross Island Line, Singapore's longest fully underground MRT line. This represents a total of 522 units for a single project - a substantial equipment order that will strengthen Otis's position in the APAC transportation infrastructure segment.

The contract's value was not disclosed, but based on the volume of units and the premium nature of the Singapore market, this likely represents a meaningful revenue contribution. More importantly, the deal enhances Otis's installed base in Singapore, which directly feeds into its higher-margin service business model. The company's service portfolio - already the industry's largest at 2.4 million units - will grow further, creating a reliable stream of recurring maintenance revenue for decades.

The Gen3 elevator platform includes the Otis ONE� IoT digital platform, which provides predictive maintenance capabilities. This technology differentiation likely gave Otis a competitive edge in the bidding process against rivals like Schindler, Kone, and TK Elevator. Singapore's emphasis on reliability and uptime in public infrastructure aligns perfectly with Otis's IoT-enabled service approach.

This win builds on Otis's established relationship with Singapore's LTA, as the company has previously installed and maintained vertical transportation systems across six other MRT lines in Singapore. This track record was likely instrumental in securing this new contract and demonstrates the company's ability to retain and expand key infrastructure relationships in competitive Asian markets.

SINGAPORE, Aug. 20, 2025 /PRNewswire/ -- (NYSE: OTIS), the world's leading elevator and escalator manufacturing, installation and service company, has been selected by the Land Transport Authority (LTA) to help create a seamless and user-friendly transport experience on the Singapore Mass Rail Transport (MRT)'s new Cross Island Line.

Otis will provide 336 heavy-duty and public escalators and moving walkways, together with 186 Gen3𱹲ٴǰ.

As the longest fully underground MRT line in Singapore, the Cross Island Line will connect major hubs including the Jurong Lake District, Punggol Digital District and Changi regions. The MRT system is designed to be the backbone of Singapore's public transport network, offering a fast, convenient, and reliable way for people to travel around the island. It , including residential areas, business hubs, and recreational spaces.

"We are honored to be awarded this project and to contribute to Singapore's infrastructure growth by providing our best-in-class vertical mobility solutions, supporting Singapore's continuous urban developmentԻ the LTA's plans to enhance connectivity, convenience, and sustainability within Singapore's land transport network," said Nicolas Lopez, Managing Director of Otis Southeast Asia. "With extensive experience in infrastructure projects, Otis employs innovative mobility solutions to seamlessly connect people and communities, helping everyone navigate with ease and contribute to the continuous growth and prosperity of the area."

What Otis systems will be used in this Project?
Safe, reliable and durable, Otis' heavy-duty and is designed to meet the demands of high-traffic environments. It comes with passenger-sensing standby mode, dual speed feature and high-performance efficient motor.

The combines the proven technology of Otis' best-selling Gen2® proven design and flat-belt technology with the Otis ONE� IoT digital platform. By collecting and analyzing data from the elevators' smart sensors, Otis ONE delivers real-time performance information, proactive communication and predictive insights. The Otis ONE IoT digital platform enables service professionals to be proactive, identifying potential problems and addressing them, often remotely, before they cause a service interruption - contributing to more reliable operations, less downtime and smoother journeys for passengers. 

What other rail projects has Otis supported in Singapore?
The LTA is continuously expanding and upgrading the MRT network, with plans to improve accessibility, capacity, and overall system reliability.

In addition to the newly awarded contracts, Otis has installed and maintained elevators and escalators across several MRT lines including , North-East Line, Downtown Line, Tuas West Extension and Thomson-East Coast Line Stages 1 to 3.

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 Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit and follow us on , Ի @OtisElevatorCo.

Media Contact: Richard Howat, [email protected]

Cision View original content to download multimedia:

SOURCE Otis Worldwide Corporation

FAQ

What is the scope of Otis' contract for Singapore's Cross Island Line?

Otis will provide 336 heavy-duty escalators and moving walkways, plus 186 Gen3� elevators for Singapore's longest fully underground MRT line.

How will Otis' Gen3 elevator technology benefit the Singapore MRT system?

The Gen3 elevators feature the Otis ONE IoT platform that provides real-time performance monitoring, predictive maintenance, and remote problem-solving capabilities to reduce downtime.

What other Singapore MRT lines has Otis previously worked on?

Otis has installed and maintained equipment on the North-South, East-West, North-East, Downtown, Tuas West Extension, and Thomson-East Coast Line Stages 1-3.

How many passengers does Otis serve globally per day?

Otis moves 2.4 billion people daily and maintains approximately 2.4 million customer units worldwide.

Which major Singapore districts will the Cross Island Line connect?

The Cross Island Line will connect the Jurong Lake District, Punggol Digital District, and Changi regions.
Otis Worldwde

NYSE:OTIS

OTIS Rankings

OTIS Latest News

OTIS Latest SEC Filings

OTIS Stock Data

34.43B
392.01M
0.12%
92.1%
1.62%
Specialty Industrial Machinery
Electronic & Other Electrical Equipment (no Computer Equip)
United States
FARMINGTON