Andover was originally settled in 1636 under the Indian name of Cochicewick, a waterway in the region. The community was incorporated in 1646 as the Town of Andover, named after a town in England from where many of the settlers had come.
The region's first powder mill was established in 1775. Paper manufacturing began in 1789. In the early nineteenth century, woolen mills were constructed. While all of these types of manufacturing have since moved elsewhere, Andover continues to attract major industry.
Today, Andover is home to companies such as Philips Medical Systems, Raytheon, WYETH Pharmaceuticals, Putnam Investments, Smith & Nephew Endoscopy, Dynamics Research Corp. and Straumann.