  Industrial cyber-physical systems (ICPS) are gradually integrating
information technology and automating industrial processes, leading systems to
become more vulnerable to malicious actors. Thus, to deploy secure Industrial
Control and Production Systems (ICPS) in smart factories, cyber threats and
risks must be addressed. To identify all possible threats, Threat Modeling is a
promising solution. Despite the existence of numerous methodological solutions
for threat modeling in cyber-physical systems (CPS), current approaches are ad
hoc and inefficient in providing clear insights to researchers and
organizations involved in IIoT technologies. These approaches lack a
comprehensive analysis of cyber threats and fail to facilitate effective path
analysis across the ICPS lifecycle, incorporating smart manufacturing
technologies and tools. To address these gaps, a novel quantitative threat
modeling approach is proposed, aiming to identify probable attack vectors,
assess the path of attacks, and evaluate the magnitude of each vector. This
paper also explains the execution of the proposed approach with two case
studies, namely the industrial manufacturing line, i.e., the Internet of
Manufacturing (IoM), and the power and industry, i.e., the Internet of
Production (IoP).
