Woodward Inc
WWD
Industrials
2
exclusion reasons
2 themes
Woodward Inc is screened out under 2 exclusion reasons spanning 2 issue categories.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
Woodward Inc. supplies critical control systems for aerospace and industrial applications, including to the Israeli military. The 2025 Don’t Buy Into Occupation report documents Woodward’s direct supply of components for Israeli military aircraft, including the F-15I and F-16I fighter jets. These aircraft are used by the Israeli Air Force in operations over occupied Palestinian territories. Woodward’s products are integral to the flight control and engine management systems of these platforms, constituting material support for military activities in occupied territories in violation of international law.
Woodward Inc. designs and manufactures specialized fuel systems, engine controls, and actuation solutions for aerospace and defense applications. Its products are purpose-built for military platforms, including aircraft, naval vessels, and weapons systems. The company actively markets these control solutions to leading defense prime contractors.
According to the SIPRI Top 100 arms companies report, Woodward generated approximately $569 million in arms sales in 2023, representing about 20% of its total revenue. This exceeds the materiality threshold for defense contracting. The company’s own materials cite “robust defense activity” as a key driver of sales growth. A 2025 contract award from the U.S. Department of Defense further confirms its direct role as a military supplier.
Research Sources
2 organizations
Related Exclusions
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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