Woodward, Inc.

Short description: American aerospace and industrial products company

Woodward, Inc. is an American designer, manufacturer, and service provider of control systems and control system components (e.g. fuel pumps, engine controls, actuators, air valves, fuel nozzles, and electronics) for aircraft engines, industrial engines and turbines, power generation and mobile industrial equipment. The company also provides military devices and other equipment for defense.[1]

Woodward, Inc.

Formerly| The Woodward Governor Company
Type| Public

Traded as

| NASDAQ: WWD (WGOV prior to 2011)
S&P 400 Component
ISIN| [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=US9807451037+US9807451037]">[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=US9807451037 US9807451037]
Industry| Aerospace, Industrial[2]
Founded| Rockford, Illinois, United States (1870 (1870))[3]
Founder| Amos Woodward[3]
Headquarters|

Fort Collins, Colorado

United States

Number of locations

| 42 plants and offices in 13 countries[3] (2021)

Area served

| Worldwide

Key people

* Chip Blankenship
* (Chairman, President, & CEO)
* Bill Lacey
* (Vice Chairman & CFO)

Tom Cromwell|(Vice Chairman & COO)
Products| Control systems and components
Revenue|

* US$ 2.25 billion
* (FY SEP 2021)[4]

Operating income

* US$ 280.08 million
* (FY SEP 2021)[4]

Net income

* US$ 208.65 million
* (FY SEP 2021)[4]

Total assets|

* US$ 4.09 billion
* (FY SEP 2021)[4]

Total equity|

* US$ 2.21 billion
* (FY SEP 2021)[4]

Number of employees

| ~7,200 (FY MAY 2021)
Website| www.woodward.com

[ ⚑ ]  40°33′13.45″N 105°3′39.82″W﻿ / ﻿40.5537361°N 105.0610611°W﻿ / 40.5537361; -105.0610611

Woodward, Inc. was founded as The Woodward Governor Company by Amos Woodward in 1870.[5] Initially, the company made controls for waterwheels (first patent No. 103,813), and then moved to hydro turbines.[6] In the 1920s and 1930s, Woodward began designing controls for diesel and other reciprocating engines and for industrial turbines. Also in the 1930s, Woodward developed a governor for variable-pitch aircraft propellers.[7] Woodward parts were notably used in the GE engine on United States military's first turbine-powered aircraft. Starting in the 1950s, Woodward began designing electronic controls, first analog and then digital units.

## Contents

* 1 Historical information
* 2 Modern day company
* 3 Woodward family patents
* 4 References

## Historical information

The company was founded in Rockford, Illinois, in 1870 with Amos W. Woodward's invention of a non compensating mechanical waterwheel governor (U.S. patent No. 103,813).[5][8] Thirty years later, his son Elmer patented the first successful mechanical compensating governor for hydraulic turbines (U.S. patent No. 583,527).[9] In 1933, the company expanded its product line to include diesel engine controls (U.S. patent No. 2,039,507)[10] and aircraft propeller governors (British patent No. 470,284).[11] Woodward governors followed the rapid advancement of diesel engine applications for railroads, maritime and electrical generation in many fields. The advent of gas turbine engines for aircraft and industrial uses offered still more opportunities for Woodward designed fuel controls. And, of course, the science of electronics has added impetus to this industry.

Elmer E. Woodward conceived, designed, and developed the first successful propeller control in 1933.[11] This model PW-34 propeller governor is on display at the Udvar-Hazy annex of the Smithsonian National Air and Space Museum.[12]

## Modern day company

As of 2007, Woodward Governor Company became a billion-dollar company with establishments worldwide, including Japan, China, and Europe.[citation needed]

On January 26, 2011, the company announced that shareholders had approved the name change to Woodward, Inc.[13]

A growing number of general aviation and commuter aircraft rely on Woodward AES overspeed governors, synchronizers and synchrophasers for turboshaft, turboprop, and reciprocating engines. (As of September 2016), approximately 34% of the company's sales were to the defense market, including parts for the V-22 Osprey ($645,000 revenue per aircraft) and the F/A-18 ($335,000 revenue per aircraft).[14] The engines that are controlled by Woodward Aircraft engines systems include those from Honeywell (TPE331), General Electric (CT7), Pratt & Whitney Canada (PT6A series), Raytheon, Vans, and Rotax Corporations.

In April 2018, Woodward Inc. purchased L'Orange GmbH for $859 million. This supplier of fuel-injection components for stationary, marine, offshore, and industrial engines was part of Rolls-Royce's power-systems business in Germany, the US and China.[15] On January 12, 2020, the company announced an intent to merge with Hexcel, according to the Wall Street Journal. On April 20, it was announced the merger was called off, as a result of the health crisis caused by the COVID-19 pandemic.[16] The COVID19 crisis also led to a sharp drop in revenues for Woodward, Inc.[17]

## Woodward family patents

* "Improvement in Water-Governors" US patent 103813, issued 1870-05-31
* & Woodward, Elmer E."Water-Wheel Governor" US patent 432105, issued 1890-07-15
* "Lathe Center Grinder" US patent 438876, issued 1890-10-21
* "Orange Sizer" US patent 466817, issued 1892-01-12
* "Adjustable Nozzle" US patent 497903, issued 1893-05-23, assigned to James Leffel & Company
* & Woodward, Elmer E."Governor for Water Wheels" US patent 583527, issued 1897-06-01
* "Governor for Water-Wheels" US patent 608245, issued 1898-08-02
* "Governor for Water-Wheels" US patent 679353, issued 1901-07-30
* "Stove or Furnace" US patent 811349, issued 1906-01-30
* ; Woodward, Frank M. & Woodward, Amos W."Exhibitor" US patent 979239, issued 1910-12-20
* "Speed-Regulator" US patent 1106434, issued 1914-08-11
* "Diesel Engine Governor" US patent 2039507, issued 1936-05-05, assigned to Woodward Governor Company
* "Automatic Governor Control for Controllable Pitch Propeller" GB patent 470284, issued 1937-08-12, assigned to Woodward Governor Company
* "Governor Mechanism" US patent 2204640, issued 1940-06-18, assigned to Woodward Governor Company
* & Woodward, Walter T."Speed Regulating System" US patent 2273408, issued 1942-02-17, assigned to Woodward Governor Company

## References

1. ↑ https://www.woodward.com/industry/military/smart-defense
2. ↑ "Explore Our Markets". http://www.woodward.com/home.aspx. Retrieved 2015-01-07.
3. ↑ 3.0 3.1 3.2 "About Woodward". September 2014. https://www.woodward.com/about. Retrieved 2015-01-07.
4. ↑ 4.0 4.1 4.2 4.3 4.4 "US SEC: Form 10-K Woodward, Inc.". U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/108312/000156459021057773/wwd-10k_20210930.htm#ITEM_10_DIRECTORS_EXECUTIVE_FICERS_CORPO. Retrieved June 28, 2022.
5. ↑ 5.0 5.1 "Woodward's History". https://wss.woodward.com/newsroom/Pages/Woodward-History.aspx. Retrieved 5 March 2019.
6. ↑ "Hydro Governors and Controls: A Perspective | Energy Central". https://energycentral.com/c/gn/hydro-governors-and-controls-perspective.
7. ↑ Kinney, Jeremy R. (2017-03-24) (in en). Reinventing the Propeller. Cambridge University Press. ISBN 978-1-107-14286-2. https://books.google.com/books?id=L3Q3DgAAQBAJ&q=1930s,+Woodward+developed+a+governor+for+variable-pitch+aircraft+propellers.&pg=PA237.
8. ↑ U.S. Patent 103,813 "Improvement in Water-Governors" US patent 103813, issued 1870-05-31
9. ↑ U.S. Patent 583,527 & Woodward, Elmer E."Governor for Water Wheels" US patent 583527, issued 1897-06-01
10. ↑ U.S. Patent 2,039,507 "Diesel Engine Governor" US patent 2039507, issued 1936-05-05, assigned to Woodward Governor Company
11. ↑ 11.0 11.1 "Automatic Governor Control for Controllable Pitch Propeller" GB patent 470284, issued 1937-08-12, assigned to Woodward Governor Co
12. ↑ Brown, Steven; McCutcheon, Kimble D. (2003). "Aircraft Propulsion Artifacts Case; Stephen F. Udvar-Hazy Center". http://www.enginehistory.org/Museums/nasm.shtml. Retrieved 2015-01-07.
13. ↑ Woodward Governor drops the ‘Governor’, Bizjournals.com, 26 January 2011
14. ↑ "Gabelli & Company's 22nd Annual Aircraft Supplier & Connectivity Conference". 20 September 2016. p. 31. https://www.gabelli.com/Gab_pdf/Research/Reports/22ndAnncap_20160920.pdf.
15. ↑ Pat Ferrier, Woodward buys part of Rolls-Royce, pays $17M to move California operations to Fort Collins, Coloradoan.com, 9 April 2018
16. ↑ "Woodward and Hexcel Announce Mutual Termination of Merger". 2020-04-20. https://www.businesswire.com/news/home/20200406005143/en/Woodward-Hexcel-Announce-Mutual-Termination-Merger-Agreement. Retrieved 2020-07-21.
17. ↑ Pat Ferrier, Woodward's sales plunge amid ongoing COVID-19 pandemic, Coloradoan.com, 7 August 2020

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