Securing innovation at sea: Cyber risk management for SMEs in ship design

Abstract

This paper examines the critical cybersecurity landscape faced by maritime SMEs engaged in Ship Design, analysing their vulnerability to various cyber threats including ransomware, phishing attacks, and supply chain compromises. Through a comprehensive review of recent industry reports, regulatory frameworks, and cybersecurity incidents, we identify key risk factors and assess their potential impact on SMEs' operations, reputation, and competitive advantage. Our analysis reveals that maritime SMEs face disproportionate challenges in cybersecurity due to resource constraints, complex supply chain relationships, and the increasing sophistication of cyber threats targeting intellectual property. The paper presents a structured approach to cyber risk management based on established frameworks, emphasizing the protection of valuable intellectual property while maintaining operational efficiency. We propose practical recommendations for implementing robust cybersecurity measures within the resource constraints typical of SMEs, including strategies for threat detection, incident response, and recovery planning.