Woodward, Inc.

Woodward, Inc.
Formerly	The Woodward Governor Company
Type	Public
Traded as	NASDAQ: WWD (WGOV prior to 2011); S&P 400 Component
ISIN	US9807451037
Industry	Aerospace, Energy[1]
Founded	Rockford, Illinois, United States (1870)[2]
Founder	Amos Woodward[2]
Headquarters	Fort Collins, Colorado, United States
Number of locations	32 plants and offices in 15 countries[2] (2014)
Area served	Worldwide
Key people	Thomas A. Gendron; (Chairman, President, & CEO)[3]; Robert F. Weber, Jr.; (Vice Chairman & CFO)[3];
Products	Control systems and components
Revenue	US$ 2.10 billion; (FY SEP 2017)[3];
Operating income	US$ 280.18 million; (FY SEP 2017)[3];
Net income	US$ 200.51 million; (FY SEP 2017)[3];
Total assets	US$ 2.76 billion; (FY SEP 2017)[3];
Total equity	US$ 1.37 billion; (FY SEP 2017)[3];
Number of employees	~6,900 (FY SEP 2017)[3]
Website	www.woodward.com

Coordinates: 40°33′13.45″N 105°3′39.82″W / 40.5537361°N 105.0610611°W / 40.5537361; -105.0610611

Woodward, Inc. is the world's oldest and largest independent 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.

Woodward, Inc. was founded as The Woodward Governor Company by Amos Woodward in 1870. Woodward Governor Company initially made controls for waterwheels (first patent No. 103,813) and then moved to hydro turbines. 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. And when the United States military's first turbine-powered aircraft successfully flew, its GE engine had a Woodward control. Starting in the 1950s, Woodward began designing electronic controls, first analog and then digital units.

Historical Information

The journey began in Rockford, Illinois in 1870 with Amos W. Woodward's invention of a noncompensating mechanical waterwheel governor (U.S. patent No. 103,813).^[4] Thirty years later his son, Elmer, patented the first successful mechanical compensating governor for hydraulic turbines (U.S. patent No. 583,527).^[5] In 1933, the company became more diversified by expanding its product line to include diesel engine controls (U.S. patent No. 2,039,507)^[6] and aircraft propeller governors (British patent No. 470,284).^[7] 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.^[7] This model PW-34 propeller governor is on display at the Udvar-Hazy annex of the Smithsonian National Air and Space Museum.^[8] Today, approximately 75% of all propeller-driven aircraft use Woodward AES controls. A growing number of general aviation and commuter aircraft rely on Woodward AES overspeed governors, synchronizers and synchophasers for the turboshaft, turboprops and reciprocating engines. As engine controls have moved toward electric-based systems, Woodward has responded with a line of electric propeller controls. The engines that are controlled by Woodward Aircraft engines systems are from Honeywell (TPE331), General Electric (CT7), Pratt & Whitney Canada (PT6A series), Raytheon, Vans, and Rotax Corporations to name a few.

Modern Day Company

As of 2007, Woodward Governor Company became a $1 billion company with establishments all across the globe including: Japan, China, Europe and many others.^[2]

On January 26, 2011, the company announced that shareholders have approved the name change to Woodward, Inc.^[9]

References

↑ "Explore Our Markets". Retrieved 2015-01-07.
1 2 3 4 "About Woodward". Woodward. September 2014. Retrieved 2015-01-07.
1 2 3 4 5 6 7 8 "US SEC: Form 10-K Woodward, Inc". U.S. Securities and Exchange Commission. Retrieved January 25, 2018.
↑ U.S. Patent 103,813 US patent 103813, Woodward, Amos W., "Improvement in Water-Governors", issued 1870-05-31
↑ U.S. Patent 583,527 US patent 583527, Woodward, Amos W. & Woodward, Elmer E., "Governor for Water Wheels", issued 1897-06-01
↑ U.S. Patent 2,039,507 US patent 2039507, Woodward, Elmer E., "Diesel Engine Governor", issued 1936-05-05, assigned to Woodward Governor Company
1 2 GB patent 470284, Woodward, Elmer E., "Automatic Governor Control for Controllable Pitch Propeller", issued 1937-08-12, assigned to Woodward Governor Co
↑ Brown, Steven; McCutcheon, Kimble D. (2003). "Aircraft Propulsion Artifacts Case; Stephen F. Udvar-Hazy Center, 2003". Aircraft Engine Historical Society. Retrieved 2015-01-07.
↑ "Woodward Name Change Approved; NASDAQ Trading Symbol to Change" (Press release). Fort Collins, Colorado: Woodward. Marketwire. 2011-01-26. Retrieved January 26, 2011.

Woodward Family Patents

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

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[1] "Explore Our Markets". Retrieved 2015-01-07.

[About-2] 1 2 3 4 "About Woodward". Woodward. September 2014. Retrieved 2015-01-07.

[10-K_SEP_2017-3] 1 2 3 4 5 6 7 8 "US SEC: Form 10-K Woodward, Inc". U.S. Securities and Exchange Commission. Retrieved January 25, 2018.

[4] U.S. Patent 103,813 US patent 103813, Woodward, Amos W., "Improvement in Water-Governors", issued 1870-05-31

[5] U.S. Patent 583,527 US patent 583527, Woodward, Amos W. & Woodward, Elmer E., "Governor for Water Wheels", issued 1897-06-01

[6] U.S. Patent 2,039,507 US patent 2039507, Woodward, Elmer E., "Diesel Engine Governor", issued 1936-05-05, assigned to Woodward Governor Company

[GB470284-7] 1 2 GB patent 470284, Woodward, Elmer E., "Automatic Governor Control for Controllable Pitch Propeller", issued 1937-08-12, assigned to Woodward Governor Co

[8] Brown, Steven; McCutcheon, Kimble D. (2003). "Aircraft Propulsion Artifacts Case; Stephen F. Udvar-Hazy Center, 2003". Aircraft Engine Historical Society. Retrieved 2015-01-07.

[woodward_press_release-9] "Woodward Name Change Approved; NASDAQ Trading Symbol to Change" (Press release). Fort Collins, Colorado: Woodward. Marketwire. 2011-01-26. Retrieved January 26, 2011.