Modular drill bits have a fluted body that accepts exchangeable cutting tips to form a cutting edge for drilling holes into workpieces. Also called replaceable-tip drill bits, they have a hole at the head of the bit for mounting compatible tips. The tips can be replaced with new tips of the same type or different types without removing the drill bits from the machine. Modular drill bits require fewer tool changes than solid tools in high-volume metalworking and fabrication applications with high speeds, high feeds, and difficult-to-machine materials.