Woodward (WWD)
Controls fuel, combustion and motion across aircraft engines and industrial power equipment.
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Woodward makes the small, precise parts that control fuel and movement inside jet engines, aircraft wings, power turbines and giant ship engines. It sells those parts once to the companies that build the machine, then sells repairs and spares for decades afterwards. The repair side is quietly becoming the better business, and the newest engines are only now arriving for their first overhauls. Meanwhile it is building new factory space to keep up.
Item facts: FY2026 · nine months ended June 30, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 11 more below
Commercial Services
Repairs and spare parts for the Woodward hardware already flying on airliners. June-quarter sales were $268 million, up 24%, and repair work on the newest engine types is set to overtake the older ones around the turn of the year.
Competes with Engine-maker repair network (Safran) · Approved replacement parts (HEICO) · Component repair shops (Lufthansa Technik)
In plain English
Every fuel pump and valve Woodward puts on an engine wears out eventually, and an airline cannot fly the plane until that part is fixed. So the parts come back — to Woodward's own shops, or to big repair houses it licenses to do the work.
Airlines and maintenance firms pay for the labour and the replacement pieces, then pay again a few years later, for as long as the engine stays in service. The catch is that other companies are allowed to make approved copies of those parts and perform the same repairs, so holding the work means holding customers for decades.
Commercial OEM
New-build parts for jets and engines — pumps, valves, nozzles, actuators — sold to whoever is building the machine. June-quarter sales were $234 million, up 34%; firm orders across the whole company sat near $3.4 billion in late 2025, most of it due within a year.
Competes with Aircraft fuel systems (Parker Hannifin) · Flight control actuation (Moog) · Aircraft fuel and air systems (Collins Aerospace)
In plain English
Think of an aircraft engine as a shopping list of specialist pieces. Woodward supplies several items on that list: the pump that pushes fuel, the unit that meters it, the nozzles that spray it, the valves that move air, the motors that swing surfaces.
It gets paid per shipset — one aircraft's worth of parts — so income rises and falls with how many planes Boeing and Airbus actually build, not with how full those planes are. The buyers are few: RTX, GE Aerospace and Boeing are the ones Woodward names, though no single customer reached a tenth of last year's sales.
A350 wing spoiler actuation
Airbus picked Woodward to move most of the panels that lift out of the A350's wings to slow it down — 12 of the 14 spoilers, plus long-term service. Deliveries start late 2028 and take Woodward's content on each A350 to roughly $550,000.
Competes with Flight control actuation (Moog) · Flight control actuation (Liebherr-Aerospace) · Flight control actuation (Collins Aerospace)
In plain English
Spoilers are the flat panels that rise out of an aircraft wing to spill lift and slow the plane — the ones you can watch flip up on landing. Each one needs something to push it on command, and Airbus chose Woodward for twelve of the fourteen on the A350.
Nothing is earned yet. First units are scheduled for late 2028, out of a South Carolina plant Woodward is still finishing. Once they ship, Woodward's parts on each A350 are worth roughly half a million dollars, and the award came with an agreement to service them for years afterwards.
Defense OEM
Fin controls that steer guided bombs, plus actuation on military aircraft and helicopters. June-quarter sales were $141 million, down 6% on a one-time booking correction — without it the line grew. Contract price steps move it as much as volume.
Competes with Precision missile fin actuation (Moog) · Flight control actuation (Collins Aerospace) · Rotorcraft flight controls (Honeywell)
In plain English
A guided bomb is mostly a plain bomb with a tail kit bolted on: small fins, a brain, and something to swing those fins so the weapon steers where it was told to go. Woodward makes the part that swings the fins, on the JDAM kit and on small diameter bombs.
Militaries buy these kits to refill stockpiles, so the money follows replenishment budgets rather than any commercial cycle. Prices are set in contracts rather than by a market — a new JDAM price agreed in 2025 lifted the line by itself. The same business also supplies flight controls for military aircraft and rotorcraft.
Defense Services
Spares and overhaul for military engine and flight controls. June-quarter sales were $66 million, up 20%, on a big delivery of spares for the T700 — the engine on Black Hawk and Apache helicopters. Deliveries arrive in lumps, so read the year, not the quarter.
Competes with Military engine controls overhaul (Collins Aerospace) · Actuation service network (Moog) · In-house depot overhaul (Military depots)
In plain English
Worn control units come off military aircraft, go back for overhaul, or get swapped for a new one pulled off a shelf. Woodward does that work on the hardware it built in the first place.
What makes this line jumpy is that governments order in batches — one quarter brings a large release of spares, the next brings very little. Supply matters as much as demand: the metal castings Woodward needs have been the bottleneck, and when they loosened in the June quarter, shipments jumped. The bill is paid from military spares budgets, which follow how many hours the fleets fly.
Power Generation
Controls, valves and injectors for the turbines and generator engines that make electricity. June-quarter sales were $145 million, up 19%, pulled along by data centres buying both everyday power and backup. Big turbines now carry lead times of five to seven years.
Competes with Turbine control systems (Emerson) · InteliGen gen-set controllers (ComAp) · In-house turbine controls (GE Vernova)
In plain English
A power turbine is close to a jet engine bolted to the ground, spinning a generator instead of pushing a plane. Something has to decide how much fuel goes in and shut the machine down fast when a reading goes wrong: that is Woodward's control box, its fuel valves and its actuators.
Turbine makers fit them to new machines, and plant owners buy them again when an ageing system is modernised. The pull right now is from data centres, which want steady power plus diesel generator sets standing by for the moment the grid blinks — and Woodward's German plant makes the injectors inside those standby engines.
Transportation — Marine
Fuel injection, controls and ignition for the very large engines in ships. Sales ran about $140 million in the June quarter, up roughly a quarter — strong, but slower than the 38% of two quarters earlier, decelerating from a high base.
Competes with In-house engine controls (Wärtsilä) · Marine engine governors (HEINZMANN) · Common-rail injection (PHINIA)
In plain English
Cargo ships are driven by very large engines, and pushing fuel into one at exactly the right instant is a specialist job. Woodward has done it for decades through its German injection business, L'Orange, bought from the Rolls-Royce power systems arm in 2018.
Engine builders and shipyards buy the injectors, controls and ignition with each new engine, and a service business is growing on top of the ones already at sea. Today's orders reflect yards that are already full. The thing to watch is fuel: as ships move towards liquefied gas, methanol or ammonia, the injection has to be reworked for each one.
Oil and Gas
Controls, valves and protection for the turbines and compressors that move and process gas. June-quarter sales were $76 million, up 11%, mostly on gas-liquefaction work. This line follows project approvals rather than a steady cycle.
Competes with Turbomachinery controls (Siemens Energy) · Compressor control systems (Emerson) · Control system retrofits (Petrotech)
In plain English
Gas does not move itself. Compressors push it along pipelines, turbines drive the compressors, and the plants that chill gas into liquid for shipping run on the same kind of machinery. All of it needs something watching speed, fuel and safety limits.
Woodward sells that gear two ways: fitted to new machines by the makers who qualify it, and sold straight to a plant owner who wants a tired control system replaced without buying a new turbine. Overhauling Woodward valves already in the field adds more. Orders land when big gas projects get approved, which is why this line steps rather than glides.
Commercial ServicesRepairs and spare parts for the Woodward hardware already flying on airliners. June-quarter sales were $268 million, up 24%, and repair work on the newest engine types is set to overtake the older ones around the turn of the year.Repairs and spare parts for the Woodward hardware already flying on airliners. June-quarter sales were $268 million, up 24%, and repair work on the newest engine types is set to overtake the older ones around the turn of the year.
In plain English
Every fuel pump and valve Woodward puts on an engine wears out eventually, and an airline cannot fly the plane until that part is fixed. So the parts come back — to Woodward's own shops, or to big repair houses it licenses to do the work.
Airlines and maintenance firms pay for the labour and the replacement pieces, then pay again a few years later, for as long as the engine stays in service. The catch is that other companies are allowed to make approved copies of those parts and perform the same repairs, so holding the work means holding customers for decades.
Competes with Engine-maker repair network (Safran) · Approved replacement parts (HEICO) · Component repair shops (Lufthansa Technik)
Commercial OEMNew-build parts for jets and engines — pumps, valves, nozzles, actuators — sold to whoever is building the machine. June-quarter sales were $234 million, up 34%; firm orders across the whole company sat near $3.4 billion in late 2025, most of it due within a year.New-build parts for jets and engines — pumps, valves, nozzles, actuators — sold to whoever is building the machine. June-quarter sales were $234 million, up 34%; firm orders across the whole company sat near $3.4 billion in late 2025, most of it due within a year.
In plain English
Think of an aircraft engine as a shopping list of specialist pieces. Woodward supplies several items on that list: the pump that pushes fuel, the unit that meters it, the nozzles that spray it, the valves that move air, the motors that swing surfaces.
It gets paid per shipset — one aircraft's worth of parts — so income rises and falls with how many planes Boeing and Airbus actually build, not with how full those planes are. The buyers are few: RTX, GE Aerospace and Boeing are the ones Woodward names, though no single customer reached a tenth of last year's sales.
Competes with Aircraft fuel systems (Parker Hannifin) · Flight control actuation (Moog) · Aircraft fuel and air systems (Collins Aerospace)
A350 wing spoiler actuationAirbus picked Woodward to move most of the panels that lift out of the A350's wings to slow it down — 12 of the 14 spoilers, plus long-term service. Deliveries start late 2028 and take Woodward's content on each A350 to roughly $550,000.Airbus picked Woodward to move most of the panels that lift out of the A350's wings to slow it down — 12 of the 14 spoilers, plus long-term service. Deliveries start late 2028 and take Woodward's content on each A350 to roughly $550,000.
In plain English
Spoilers are the flat panels that rise out of an aircraft wing to spill lift and slow the plane — the ones you can watch flip up on landing. Each one needs something to push it on command, and Airbus chose Woodward for twelve of the fourteen on the A350.
Nothing is earned yet. First units are scheduled for late 2028, out of a South Carolina plant Woodward is still finishing. Once they ship, Woodward's parts on each A350 are worth roughly half a million dollars, and the award came with an agreement to service them for years afterwards.
Competes with Flight control actuation (Moog) · Flight control actuation (Liebherr-Aerospace) · Flight control actuation (Collins Aerospace)
Defense OEMFin controls that steer guided bombs, plus actuation on military aircraft and helicopters. June-quarter sales were $141 million, down 6% on a one-time booking correction — without it the line grew. Contract price steps move it as much as volume.Fin controls that steer guided bombs, plus actuation on military aircraft and helicopters. June-quarter sales were $141 million, down 6% on a one-time booking correction — without it the line grew. Contract price steps move it as much as volume.
In plain English
A guided bomb is mostly a plain bomb with a tail kit bolted on: small fins, a brain, and something to swing those fins so the weapon steers where it was told to go. Woodward makes the part that swings the fins, on the JDAM kit and on small diameter bombs.
Militaries buy these kits to refill stockpiles, so the money follows replenishment budgets rather than any commercial cycle. Prices are set in contracts rather than by a market — a new JDAM price agreed in 2025 lifted the line by itself. The same business also supplies flight controls for military aircraft and rotorcraft.
Competes with Precision missile fin actuation (Moog) · Flight control actuation (Collins Aerospace) · Rotorcraft flight controls (Honeywell)
Defense ServicesSpares and overhaul for military engine and flight controls. June-quarter sales were $66 million, up 20%, on a big delivery of spares for the T700 — the engine on Black Hawk and Apache helicopters. Deliveries arrive in lumps, so read the year, not the quarter.Spares and overhaul for military engine and flight controls. June-quarter sales were $66 million, up 20%, on a big delivery of spares for the T700 — the engine on Black Hawk and Apache helicopters. Deliveries arrive in lumps, so read the year, not the quarter.
In plain English
Worn control units come off military aircraft, go back for overhaul, or get swapped for a new one pulled off a shelf. Woodward does that work on the hardware it built in the first place.
What makes this line jumpy is that governments order in batches — one quarter brings a large release of spares, the next brings very little. Supply matters as much as demand: the metal castings Woodward needs have been the bottleneck, and when they loosened in the June quarter, shipments jumped. The bill is paid from military spares budgets, which follow how many hours the fleets fly.
Competes with Military engine controls overhaul (Collins Aerospace) · Actuation service network (Moog) · In-house depot overhaul (Military depots)
Power GenerationControls, valves and injectors for the turbines and generator engines that make electricity. June-quarter sales were $145 million, up 19%, pulled along by data centres buying both everyday power and backup. Big turbines now carry lead times of five to seven years.Controls, valves and injectors for the turbines and generator engines that make electricity. June-quarter sales were $145 million, up 19%, pulled along by data centres buying both everyday power and backup. Big turbines now carry lead times of five to seven years.
In plain English
A power turbine is close to a jet engine bolted to the ground, spinning a generator instead of pushing a plane. Something has to decide how much fuel goes in and shut the machine down fast when a reading goes wrong: that is Woodward's control box, its fuel valves and its actuators.
Turbine makers fit them to new machines, and plant owners buy them again when an ageing system is modernised. The pull right now is from data centres, which want steady power plus diesel generator sets standing by for the moment the grid blinks — and Woodward's German plant makes the injectors inside those standby engines.
Competes with Turbine control systems (Emerson) · InteliGen gen-set controllers (ComAp) · In-house turbine controls (GE Vernova)
Transportation — MarineFuel injection, controls and ignition for the very large engines in ships. Sales ran about $140 million in the June quarter, up roughly a quarter — strong, but slower than the 38% of two quarters earlier, decelerating from a high base.Fuel injection, controls and ignition for the very large engines in ships. Sales ran about $140 million in the June quarter, up roughly a quarter — strong, but slower than the 38% of two quarters earlier, decelerating from a high base.
In plain English
Cargo ships are driven by very large engines, and pushing fuel into one at exactly the right instant is a specialist job. Woodward has done it for decades through its German injection business, L'Orange, bought from the Rolls-Royce power systems arm in 2018.
Engine builders and shipyards buy the injectors, controls and ignition with each new engine, and a service business is growing on top of the ones already at sea. Today's orders reflect yards that are already full. The thing to watch is fuel: as ships move towards liquefied gas, methanol or ammonia, the injection has to be reworked for each one.
Competes with In-house engine controls (Wärtsilä) · Marine engine governors (HEINZMANN) · Common-rail injection (PHINIA)
Oil and GasControls, valves and protection for the turbines and compressors that move and process gas. June-quarter sales were $76 million, up 11%, mostly on gas-liquefaction work. This line follows project approvals rather than a steady cycle.Controls, valves and protection for the turbines and compressors that move and process gas. June-quarter sales were $76 million, up 11%, mostly on gas-liquefaction work. This line follows project approvals rather than a steady cycle.
In plain English
Gas does not move itself. Compressors push it along pipelines, turbines drive the compressors, and the plants that chill gas into liquid for shipping run on the same kind of machinery. All of it needs something watching speed, fuel and safety limits.
Woodward sells that gear two ways: fitted to new machines by the makers who qualify it, and sold straight to a plant owner who wants a tired control system replaced without buying a new turbine. Overhauling Woodward valves already in the field adds more. Orders land when big gas projects get approved, which is why this line steps rather than glides.
Competes with Turbomachinery controls (Siemens Energy) · Compressor control systems (Emerson) · Control system retrofits (Petrotech)
Named in filings, launches and programs
- Electromechanical actuation (trim actuators)Product lineActuators that tilt an aircraft's tailplane, bought from Safran in 2025; they fly on the A350, Embraer E-Jets and Gulfstream and Falcon business jets.
- Elite Licensed Repair Service Facility networkEcosystemLufthansa Technik, AFI KLM E&M and HAECO are licensed to repair Woodward units on LEAP engines — shop capacity Woodward does not have to build itself.
- Thrust Reverser Actuation SystemsProduct lineThe actuation that opens an engine's thrust reverser — locks, feedback units, cowl actuators and control valves, sold new and repaired under exclusive agreements.
- Position sensors and precision motorsProduct lineSmall devices that report exactly where a moving part sits, and the motors that move it — a quiet catalogue line inside the aerospace parts business.
- iCON ControlsProduct lineGas-turbine control retrofits bought from EthosEnergy in December 2025, with over 1,200 systems already installed and turbine types Woodward could not previously support.
- MicroNet and Flex500 turbine controlsProduct lineWoodward's named control platforms — MicroNet Plus and XT, Flex500, LinkNet HT — the boxes that regulate and protect gas and steam turbines.
- easYgen generator-set controllersProduct lineControllers and protection for generator sets, sold to the firms that package gen-sets, including Rolls-Royce mtu Solutions.
- Industrial control upgrades and retrofitsServiceModernising controls on turbines and compressors already in service, sold either to the owner directly or alongside the machine's original maker.
- Valve Research & ManufacturingBrandFlorida maker of precision valves and solenoids, roughly 130 employees, bought in March 2026.
- Glatten fuel injection plantPlatformWoodward L'Orange's German injection works, expanded by about half again in capacity and reopened in July 2026; it feeds ship engines and standby generators.
- Spartanburg, South Carolina plantPlatform · AnnouncedNew plant due online in summer 2027 — A350 spoiler actuators, transferred military actuation and a JDAM line, with Santa Clarita production following by December 2027.
Electromechanical actuation (trim actuators)Product line
Actuators that tilt an aircraft's tailplane, bought from Safran in 2025; they fly on the A350, Embraer E-Jets and Gulfstream and Falcon business jets.
Elite Licensed Repair Service Facility networkEcosystem
Lufthansa Technik, AFI KLM E&M and HAECO are licensed to repair Woodward units on LEAP engines — shop capacity Woodward does not have to build itself.
Thrust Reverser Actuation SystemsProduct line
The actuation that opens an engine's thrust reverser — locks, feedback units, cowl actuators and control valves, sold new and repaired under exclusive agreements.
Position sensors and precision motorsProduct line
Small devices that report exactly where a moving part sits, and the motors that move it — a quiet catalogue line inside the aerospace parts business.
iCON ControlsProduct line
Gas-turbine control retrofits bought from EthosEnergy in December 2025, with over 1,200 systems already installed and turbine types Woodward could not previously support.
MicroNet and Flex500 turbine controlsProduct line
Woodward's named control platforms — MicroNet Plus and XT, Flex500, LinkNet HT — the boxes that regulate and protect gas and steam turbines.
easYgen generator-set controllersProduct line
Controllers and protection for generator sets, sold to the firms that package gen-sets, including Rolls-Royce mtu Solutions.
Industrial control upgrades and retrofitsService
Modernising controls on turbines and compressors already in service, sold either to the owner directly or alongside the machine's original maker.
Valve Research & ManufacturingBrand
Florida maker of precision valves and solenoids, roughly 130 employees, bought in March 2026.
Glatten fuel injection plantPlatform
Woodward L'Orange's German injection works, expanded by about half again in capacity and reopened in July 2026; it feeds ship engines and standby generators.
Spartanburg, South Carolina plantPlatform · Announced
New plant due online in summer 2027 — A350 spoiler actuators, transferred military actuation and a JDAM line, with Santa Clarita production following by December 2027.