During the Cold War, an ever-increasing quantity of nuclear warheads and delivery vehicles determined the strategic parameters of international security. In the 30 years since then, the global nuclear stockpiles have been reduced gradually. This process has, at least for the time being, come to an end with the New START treaty on deployed strategic nuclear weapons. It was signed by the US and Russia in April 2010. Despite its overall success, the prospects for further (nuclear) disarmament are bleak. Instead, we are witnessing an evolving arms race that will, however, differ significantly from the Cold War tradition. Two main issues drive this process.