The role of the armed forces of European countries has changed since the Cold War. They have increasingly taken part in international operations to address the world’s crises. But at the same time, military budgets have been cut. The need to do more with less has put governments under pressure to identify the capabilities that they require for modern missions and to carry out reforms. This IISS Strategic Dossier analyses these trends and considers new ways to assess the military capabilities that European nations will need to address future threats to their security.