Business Operations

More companies are taking a disciplined approach to the growing threat of cyber attacks, according to a new cybersecurity survey from the Manufacturing Leadership Council. The MLC is the digital transformation arm of the NAM.

• The survey, which included input from 160 companies, indicates a dramatic change in how seriously manufacturers consider cyber threats compared to 2018, when the MLC last conducted the same survey.

Who’s prepared: Nearly 62% of manufacturing companies say they have a formal cybersecurity plan in place, according to the survey.

• That’s up from 2018, when barely 33% of manufacturers indicated they had devised and adopted formal cybersecurity plans that encompassed their plant floors.
• Nearly 40% of respondents said they had a high level of confidence in their internal cyber expertise, compared with just 25% who expressed such certainty in 2018.

More attacks expected: Yet even as better cybersecurity strategies are put in place, nearly 79% of survey respondents said they expect more attacks in the next year.

• That figure is up from 64% in 2018.
• The most frequently cited reasons for this prediction are increased levels of cyber crime and cyber terrorism and greater connectivity in manufacturers’ operations.

The effects on digital transformation: More than half the survey respondents expressed concern that cybersecurity issues could affect the speed and scope of digital transformation.

• 14% said cybersecurity could be a major obstacle in the next five years, with another 40% describing it as “an issue of concern.”
• Close to half—43%—said they consider cyber a part of doing business in a digitally transformed world.

Proactive measures: More manufacturers are taking advantage of publicly available safeguards, such as the NIST Cybersecurity Framework, to underpin their strategies.

• Nearly 58% of respondents said they have adopted the NIST framework, up from 48% in 2018.
• 45% said they have cyber insurance, compared to the 18% that said they had it in 2018.

The coming challenge: In the past four years, manufacturers have made significant strides to combat the growing problem of cyber attacks against the industry.

• However, manufacturers will need to stay a step ahead of cyber criminals as the number and sophistication of attacks increases.

See the survey: Review the survey findings for an in-depth look at how manufacturing leaders are thinking about cybersecurity in manufacturing’s digital era.

Get help: NAM Cyber Cover was designed specifically to provide enhanced risk mitigation and protection for manufacturers and their supply chains. Find out more at www.namcybercover.com.