Transformative developments have been brought in across several industries. Digital twin technologies are one of them. This revolutionary innovation has enhanced efficiency, optimized production, and elevated product design to new heights. Nevertheless, as industries embrace the potential of digital twins, cybersecurity concerns come to the forefront due to the convergence of physical and virtual realms. By addressing cybersecurity challenges effectively, industries can fully capitalize on the transformative capabilities of digital twin technology, driving competitiveness and resilience in the face of evolving digital landscapes. Our research explores the various industrial applications of digital twin technology. It also highlights the urgent need for strong cybersecurity measures. Secure data transmission, access control, encryption, and threat detection become crucial elements that must be ensured for digital twin systems in the industrial sector. Our study fills cybersecurity gaps in digital twin applications, offering actionable information for strong security.