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Woodward, Inc.

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Company Research Report: Woodward, Inc.



Company Overview



  • Name: Woodward, Inc.

  • Mission: To design and build innovative energy control solutions for aerospace and industrial applications, focusing on energy conversion and control to power a clean future.

  • Founded: The company was founded in 1870 by Amos Woodward, who invented the Woodward Governor, a breakthrough energy system.

  • Key People:

  • Chip Blankenship: Chairman of the Board and Chief Executive Officer

  • Daniel Korte: Former Global Vice President, Aerospace

  • David Hess: Chief Executive Officer, Retired

  • Eileen Paterson: Former Chief Executive Officer and President

  • Greg Sengstack: Executive Chairperson of the Board

  • John Cohn: Senior Vice President, Asia Business Planning and Execution

  • Mary Petryszyn: Corporate Vice President, Aerospace, Retired

  • Rajeev Bhalla: Executive Vice President and Chief Financial Officer, Retired

  • Tana Utley: Vice President, Industrial Equipment, Retired

  • Headquarters: 1081 Woodward Way, Fort Collins, CO 80524

  • Number of Employees: Approximately 10,000+

  • Revenue: $2.9 billion in sales (2023)

  • What the Company is Known For: Woodward is a global leader in designing, manufacturing, and servicing energy conversion and control solutions for aerospace and industrial equipment. They focus on innovative fluid, combustion, electrical, propulsion, and motion control systems.


Products



Aerospace



  • Aircraft Engines

  • Provides precision components ensuring performance, efficiency, and reliability of flight.


  • Actuation and Controls

  • Offers advanced actuation technologies that enhance flight deck controls and functionality.


  • Flight Deck Controls

  • Delivers systems for aircraft type featuring integrated control solutions.


  • Space and Defense

  • Develops reliable solutions aligned with sustainability goals, including initiatives like net-zero flight.


Industrial



  • Power Generation

  • Provides precision fuel components improving performance and efficiency.


  • Oil and Gas

  • Supplies technology for production and refining, facilitating the transition to renewable fuels.


  • Transportation

  • Enables performance and reliability in sectors like shipping and power generation through comprehensive energy systems.


Key Product Features



  • Servovalve: Offers industry-leading performance with cost-effective solutions in single and two-stage platform technologies.


  • Fuel Pump: Most thermally efficient and cost-effective solutions for fuel pressurization utilizing proven technologies.


  • Fuel Nozzle: Design and manufacturing of fuel nozzles focused on emissions performance, operability, and efficiency.


  • Fuel Metering Unit (FMU): Provides fuel control with higher reliability and lower lifecycle costs.


  • Engine Actuators: High reliability at low costs, enhancing aircraft industry capabilities.


  • Thrust Reverser Actuation System (TRAS): Comprehensive system with fielded capabilities on various aircraft types.


Recent Developments



  • October 2024: Participated in the Women in Manufacturing Summit 2024, promoting diversity and influence in manufacturing.


  • September 2024:

  • Celebrated the completion of an Aerospace Maintenance, Repair, and Overhaul (MRO) facility transformation in Loves Park, Illinois. This $55 million project enhances capability and job opportunities, signifying growth in aftermarket services.

  • Announced appointments of Ron Charles as Chief Human Resources Officer and Karrie Bem as General Counsel, Corporate Secretary, and Chief Compliance Officer.


  • Recognitions and Partnerships:

  • Named on TIME’s inaugural list of America’s Best Mid-Size Companies 2024, reflecting commitments towards employee satisfaction, revenue growth, and sustainability.

  • Engaged in technical education programs at Rock Valley Community College and supported local economic development and wellness.


New Product Developments and Features



  • Innovative Rotary Actuator Design: Selected by Boeing for NASA’s Sustainable Flight Demonstrator X-66A aircraft, aligning with the aviation industry’s net-zero emission initiative by 2050.


Conclusion



Woodward, Inc. stands out as a leader in energy control solutions, driving innovation and sustainable practices across aerospace and industrial applications. The company's significant investments in technology and infrastructure, focus on employee growth and global sustainability, and commitment to addressing the big challenges of the planet through energy solutions are undisputed strengths in their industry footprint. Their involvement in pivotal projects and acknowledgment in industry rankings underscores their influence and growth trajectory in a competitive market landscape.