The end of the Cold War era has ushered in a century in which great military powers like the US, China, and Russia continue to dominate the arms trade, yet minor powers are also investing heavily in arms manufacturing and technologies and profiting from lucrative arms transfers. Changes in the arms trade have fostered cooperative international regulatory practices and agreements, but recent conflicts in Yemen, Syria, Libya, Nagorno-Karabakh, and Ukraine highlight the need for strong end-use monitoring, post-shipment verification, and international accountability for dubious trade deals.