The world’s most important industrial economy is particularly vulnerable to both external and internal threats, such as the one uncovered in Supervisory Control and Data Acquisition (SCADA) and Industrial Control Systems (ICS). Upon those systems, the success criteria for security are quite dynamic. Security flaws in these automated SCADA systems have already been discovered by infiltrating the entire network in addition to reducing production line hazards. The objective of our review article is to show various potential future research voids that recent studies have, as well as how many methods are available to concentrate on specific aspects of risk assessment of manufactured systems. The state-of-the-art methods in cyber security risk assessment of SCADA systems are reviewed and compared in this research. Multiple contemporary risk assessment approaches developed for or deployed in the settings of a SCADA system are considered and examined in detail. We outline the approaches’ main points before analyzing them in terms of risk assessment, conventional analytical procedures, and research challenges. The paper also examines possible risk regions or locations where breaches in such automated SCADA systems can emerge, as well as solutions as to how to safeguard and eliminate the hazards when they arise during production manufacturing.