Ransomware Attacks on Industrial Operators Surge 46% in One Quarter: Honeywell Report
Mumbai: A recent report by Honeywell has revealed a significant escalation in cyber threats against the industrial sector, with ransomware attacks increasing by 46% from Q4 2024 to Q1 2025. The energy and manufacturing sectors are among those facing significant threats.
Key Findings
- Ransomware attacks jumped to 2,472 potential incidents in Q1 2025, accounting for 40% of the annual total from 2024.
- A trojan targeting OT systems, W32.Worm.Ramnit, saw a 3,000% spike in the same period.
- USB-based threats persist, with 1,826 unique threats detected in Q1 2025, including 124 never-before-seen threats.
Impact of Unplanned Downtime
Unplanned downtime caused by cybersecurity attacks and other issues costs Fortune 500 companies approximately $1.5 trillion annually, representing 11% of their revenue.
Expert Insights
Paul Smith, director of Honeywell Operational Technology (OT) Cybersecurity Engineering, emphasized the need for industrial operators to prioritize cybersecurity, stating, “Industrial operations across critical sectors like energy and manufacturing must avoid unplanned downtime as much as possible – which is precisely why they are such attractive ransomware targets.”
Recommendations
To mitigate costly unplanned downtime and risks, industrial operators are advised to:
- Leverage Zero Trust architecture
- Utilize AI for security analysis
- Implement proactive defense measures
By taking decisive action, industrial operators can protect themselves against increasingly significant threats and comply with updated SEC reporting regulations.
