Core Insights - Otis is launching new flexible modernization solutions, Arise™ MOD Prime and Arise™ MOD Plus, aimed at upgrading outdated elevator systems in Europe, particularly in low- to mid-rise residential and commercial buildings [2][4][10] - The modernization packages allow customers to control the upgrade process in phases, aligning with their budget and operational needs [4][7][8] Company Overview - Otis is recognized as the world's leading elevator and escalator manufacturing, installation, and service company, moving approximately 2.4 billion people daily and maintaining around 2.4 million customer units globally [3][10] - The company employs 72,000 people, including 44,000 field professionals, and operates in over 200 countries and territories [10] Product Features - The Arise™ MOD solutions enhance elevator safety and efficiency, complying with the latest European safety standards [7][8] - Energy consumption can be reduced by up to 50% compared to legacy non-regenerative geared systems and up to 75% compared to hydraulic systems through the use of Otis ReGen™ drive technology [8] - The modernization packages include advanced features such as improved elevator control systems, new geared machines, and enhanced ride quality options [8][12] Customer Benefits - Customers can choose the level, cost, and pace of modernization, allowing for informed decision-making and phased planning [7][8] - Otis provides expert guidance to help customers select the best solutions for their specific building needs [8] - The new systems aim to minimize unplanned disruptions and reduce the frequency of repairs and shutdowns [4][8]