Terrorists may use cyber attacks to hit the aviation industry, an Allianz Global Corporate & Specialty report warns.

Intense security has significantly reduced hijackings, but the sector relies heavily on computer systems and a large-scale cyber attack could be devastating.

“Cyber terrorism may replace the hijacker and bomber and become the weapon of choice on attacks against the aviation community,” the insurer’s Global Aviation Safety Study says.

New-generation aircraft face a greater threat due to their increased use of technology, while on-board wi-fi is also a concern.

The sector must respond by reallocating security resources, the report says.

Increased turbulence is another emerging risk, with scientists predicting worsening conditions in the North Atlantic flight corridor due to climate change.

Pilot shortage and an expected increase in unmanned aerial vehicles are also on the watch list.

Despite a series of high-profile crashes this year, the long-term trend is towards improvements in safety, the report says.

There are currently fewer than two deaths per 100 million passengers, compared with 133 per 100 million from 1962-71.

However, exposure has increased by more than 50% since the turn of the century, due to rising fleet values and passenger numbers.

Exposure is expected to break through the $US1 trillion ($1.19 trillion) barrier by 2020.