The True Cost of Cybercrime for Global Enterprises

As businesses continue to digitalise their operations and expand across borders, the opportunities for innovation and growth have never been greater. However, with this transformation comes increased exposure to one of the most urgent threats facing global industries today: cybercrime. No longer limited to IT departments, cyberattacks now affect entire enterprises, disrupting operations, compromising data, and eroding customer trust. For industries like Aerospace, Engineering, Automotive and Defence, where precision, safety and intellectual property are paramount, the stakes are even higher. 

In this article, we explore the true cost of cybercrime, the industry’s most at risk, and how companies can protect themselves by building resilient teams and recruiting the right technical talent. 

Why Cybercrime Is a Global Enterprise Issue

Cybercrime has rapidly evolved into one of the biggest threats facing modern business. In 2024, cyberattacks cost the global economy an estimated $10.5 trillion annually, a figure expected to rise even further in the coming years. From ransomware attacks to intellectual property theft, businesses are facing increasing risks to their data, operations, and reputation. 

For enterprises working across borders, particularly in the Aerospace & Aviation, Engineering, Automotive, Marine and Defence sectors, data breaches and network intrusions can have serious implications. The reliance on digital infrastructure and smart technologies has made these industries prime targets for sophisticated cyber threats. 

How Much Is Cybercrime Really Costing Enterprises? 

The financial cost of cybercrime is more than just the ransom payment or system repair. The real cost includes: 

• Downtime and lost productivity: When operations are halted due to an attack, global supply chains can grind to a stop. 

• Regulatory fines: Data protection laws like GDPR and the US CCPA impose heavy penalties for data loss. 

• Brand reputation: Losing customer trust can take years to rebuild—and impact revenue long after the attack. 

• Recovery costs: Forensic investigations, system upgrades, legal fees, and staff retraining all contribute to overall cost. 

According to IBM’s 2024 “Cost of a Data Breach” report, the average cost of a data breach globally was $4.45 million, with the highest costs seen in highly regulated industries like healthcare and energy. 

Industries Most at Risk

While all sectors are vulnerable, technical industries are particularly exposed due to the highly valuable and often sensitive nature of the data they manage. 

• Aerospace & Aviation: From flight planning systems to passenger data, any compromise can endanger lives. 

• F1 & Automotive: Vehicle connectivity and autonomous tech increase potential attack vectors. 

• Engineering & Manufacturing: Intellectual property theft can derail innovation and R&D investments. 

• Marine: Smart ships and digital navigation are highly reliant on cybersecurity. 

• Defence & Security: National security risks make this sector a prime cybercrime target. 

Cybersecurity in Engineering and Manufacturing

With Industry 4.0 and the rise of connected systems, engineers now face challenges beyond mechanical or civil systems. From SCADA systems to IoT devices on production lines, manufacturing is deeply entwined with cybersecurity. Any breach could stop a factory or compromise proprietary designs. 

Companies must therefore implement robust cybersecurity frameworks. Regular vulnerability assessments, employee training, and secure access management are no longer optional, they’re essential for long-term resilience. 

Staffing and the Skills Gap in Cybersecurity

One of the most pressing challenges in tackling cybercrime is the global shortage of cybersecurity talent. A report by ISC2 found a shortage of over 3.4 million cybersecurity professionals worldwide in 2023. 

This shortage is even more significant in technical sectors, where understanding industry-specific systems is critical. Skilled cybersecurity experts must combine technical IT knowledge with sector-specific understanding, whether it’s air traffic control systems or autonomous vehicles. 

This is where VHR can help. We source skilled professionals globally, offering ethical recruitment solutions that support clients in protecting their systems, infrastructure, and intellectual property. Whether you need penetration testers, security engineers, or compliance analysts, our team ensures you have the right people in place to reduce your risk. 

What Can Businesses Do to Mitigate the Risks?

Enterprises must adopt a proactive approach to cybersecurity.

Key steps include: 

• Invest in Security Infrastructure: Use firewalls, intrusion detection systems, and multi-factor authentication.  

• Regular Staff Training: Human error is the biggest cybersecurity weakness—training can reduce risk significantly. 

• Third-Party Risk Management: Ensure suppliers and partners meet cybersecurity standards. 

• Incident Response Planning: Have a plan in place so teams can react quickly and minimise damage. 

Cyber resilience isn’t about avoiding all attacks, it’s about being prepared to respond quickly and effectively. 

How Cybercrime Impacts Global Recruitment

Cybercrime doesn’t just impact IT departments—it affects global hiring strategies too. Many technical roles now require a baseline understanding of cybersecurity principles, even for non-IT positions. For example: 

• Engineers must understand secure system design. 

• Project Managers need to assess digital risks. 

• Marine technicians must ensure compliance with maritime cybersecurity standards. 

Recruiters, therefore, need to source candidates with hybrid skill sets that meet modern enterprise demands. At VHR, our specialists understand how to identify these skills across international candidate pools, supporting safer and smarter hiring. 

Final Thoughts: Cybercrime Is Everyone’s Business

The cost of cybercrime goes far beyond money. It affects people, operations, and trust. As technology becomes more embedded in business operations, cybersecurity must be prioritised at all levels, from the boardroom to the factory floor. 

Working with a trusted recruitment partner like VHR can help businesses find the talent they need to stay secure and competitive. As global industries grow more connected, investing in cybersecurity staffing is investing in your long-term future. 

Take a look at how AI is transforming the Security & Defence Industry