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.

[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.

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.

[16] The COVID19 crisis also led to a sharp drop in revenues for Woodward, Inc.[17] In February 2024, a protest outside facilities in Niles, Illinois resulted in arrests of 7 men and 26 women.

[18] A previous protest in support of the Palestinian cause brought about 300 people to the facility in Fort Collins, Colorado, in November 2023.