AIRPORTS AT RISK: Cyber attacks could lead to ‘real-world peril’

While corporate and consumer businesses remain popular marks for cyber attacks, critical infrastructure facilities – in particular, airports – have become increasingly viable threat targets, says a prominent business consulting firm. Moreover, says California-based Frost & Sullivan, such infrastructure is highly vulnerable to major operational disruptions and cyber incidents that can lead to real-world peril.

The company also warns that despite the ever-increasing threat landscape and their incredibly high-risk profile, critical infrastructure organizations remain far behind where they should be in their cyber maturity and digital resilience strategies, necessitating a rapid push to fortify cyber defences and manage their cyber-risk profiles.

According to F&S, the global critical infrastructure cybersecurity market, which is segmented into oil and gas facilities, utilities (electric and water), maritime (ports and entry points), and airports, is estimated to reach US$24.22 billion by 2030 from $21.68 billion in 2020.

But “while oil and gas facilities will continue to remain the largest segment investing in cybersecurity solutions, airports will prove to be the fastest-growing one,” says F&S industry analyst Danielle VanZandt, adding the sector is expected to reach $1.87 billion by 2030.

She says the spending will be driven by the ongoing construction of new facilities, significant digitalization upgrades within existing airports, and the incremental updates being made to cybersecurity systems to keep up with the changing cyber-threat landscape and improve detection capabilities.

VanZandt added: “Africa is expected to be the fastest-growing region, followed closely by Asia-Pacific. Much of the investment in both regions is from new facilities being built, renovated, or expanded that require new cybersecurity systems installed, as well as changing consumer awareness of their cybersecurity risks. The Middle East will remain the largest market and will continue to fortify its cyber defenses and protect against prevalent cyber-threats.”