The most authoritative assessment of the military capabilities and defence economics of nearly 170 countries. New to the 2003/2004 edition is a section covering terrorism and other non-state armed activity. "The Military Balance is the unique and vital resource on which informed public debate of the world's armed forces is founded. Up-to-date figures and information on defense budgets, procurement totals, equipment holdings, and military deployments are presented clearly and succinctly. In the area of defense information, where nationally produced fictions often masquerade as facts, The Military Balance is the internationally recognized source of record." William S Cohen, former US Secretary of Defense.

Includes index.

Part I. Capabilities and Trends United States --- Part II. Defence economics --- Part III. Non-state activity.