Peacekeeping may be entering a period of major change. Over the past four years, there has been a steady decline in the number of peacekeepers deployed worldwide. And two of the largest peacekeeping missions in history are beginning to draw down. These two developments hint at the fact that UN peacekeeping may appear poised to shrink further. There are a number of factors driving this. They include budgetary pressures and a contested track record. Added to this have been the more recent financial and practical challenges posed by the COVID-19 pandemic. Yet, COVID-19 has also created conditions that suggest the demand for peace operations may be even greater in the medium-term.