Woodward, Inc.

Woodward, Inc. (NASDAQ: WWD) is a global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial sectors. Founded in 1870 and headquartered in Fort Collins, Colorado, the company has evolved from its origins in waterwheel governors to become a critical supplier of advanced systems for aircraft engines, industrial gas turbines, and power generation. With approximately 8,800 employees worldwide, Woodward is known for its innovation, engineering excellence, and long-standing partnerships with major OEMs such as Boeing, Airbus, GE, and Caterpillar.

Business Segments:

1. Aerospace Segment
   Generating approximately $2.1 billion in FY 2023 (+26% YoY), this segment includes:

   • Flight deck controls
   • Fuel metering units (e.g., MPC)
   • Combustion systems
   • Actuation systems
   • Engine sensors and integrated systems
     These products serve both commercial and defense aviation markets, supporting aircraft performance, safety, and fuel efficiency.

2. Industrial Segment
   Contributing around $1.0 billion in FY 2023 (+14% YoY), this segment focuses on:

   • Control systems for industrial gas and steam turbines
   • Reciprocating engines
   • Power generation systems
     Notable offerings include the ProTech turbine safety systems and L-Series gas engine control systems, which are used in energy, oil & gas, and transportation sectors.

Aftermarket Services: Woodward also provides maintenance, repair, and overhaul (MRO) services, contributing an estimated $600 million in FY 2023. These services support both aerospace and industrial customers, ensuring long-term reliability and performance of critical systems.