Modern weapons and military equipment cannot be made or maintained without the parts and components that are traded around the world in a globalised market. Without regulating this trade alongside the trade in complete weapons, it will be impossible to reduce the impact of irresponsible arms transfers on human rights, security, and development. Between 2008 and 2011, the global trade in parts and components was worth at least $9.7bn. This vast stockpile of weapons parts ranged from high-end components for aircraft to parts for small arms and light weapons (SALW). Without this huge movement of parts and components, the arms trade as we know it could not exist.