This annual publication provides a quantitative assessment of global military forces and defense expenditures as of June 1, 1994. The 1994-1995 volume addresses the geopolitical shifts following the Soviet Union's dissolution, necessitating a revised geographical organization. Russia is now presented in its own dedicated section due to its transcontinental nature. The book aims to offer a comprehensive and up-to-date overview of the world's military landscape.

The Military Balance is a long-standing and respected annual reference work, known for its detailed quantitative data on global military forces and defense expenditures. Its consistent yearly updates make it an indispensable resource for policymakers, analysts, and academics tracking international security trends. The 1994-1995 edition specifically addresses the significant geopolitical realignments occurring after the collapse of the Soviet Union, offering a crucial snapshot of the evolving global military order.