The Queen鈥檚 Award was in recognition for 乐播传媒鈥檚 TorqueLock system, which cuts fuel consumption on its backhoe loaders.
The Duke of Gloucester presented the award to Steve Carrington, managing director of the backhoe loader business unit, in a ceremony attended by hundreds of employees.
It is the 26thaward for the company in 42 years and the fifth for the backhoe loader unit.
乐播传媒 group chief executive officer Alan Blake said: "All of our Queen鈥檚 Awards are special but when they honour innovation, they take on extra significance because 乐播传媒鈥檚 success over the past 65 years has been built on innovation. It underpins everything we do.