Not military, so I can only comment on the relocation aspect of the job. I married someone whose job evolved into one that required frequent relocations. Every 18mths/2yrs. We always had relocation packages, but it was down to me to deal with all the practicalities of moving. I was at uni during the first move, had to transfer, which didn't run smoothly and it cost me my degree. I've never had a proper career, despite eventually getting an equivalent qualification.
It's difficult to keep friendships when you are constantly moving. My Dad had cancer at one stage and I spent a lot of time travelling back to see my parents, I felt dreadful that I wasn't there to support my Mum, fortunately we didn't have children at that stage or it would have been impossible.
When we had kids I often had to do things alone, DH had to travel or work at short notice. The kids have grown up not close to our family, my DD is particular really resents this. She went to 4 different primary schools and struggled dreadfully with this, the initial moves were fine, everyone loves the new kids, but it was hard for them and me to break into established friendship groups. They also missed a lot of school as transfers aren't seamless and whilst schools all follow the same curriculum, they don't do it in the same order, so some topics were covered 4 times, some not at all. We ended up paying for tutors to fill the gaps.
Often I had to fight to get a decent school and the kids haven't had NHS dentists for years. It has been difficult to get consistent care for health issues.
Every holiday ends up having to fit in visits to family and as a pp says, it is always you that travels as you were the ones that left. There's resentment at us not seeing them enough, but once the kids get older it's difficult fitting in lots of visits, with school exams, revision and their other activities.
DH was made redundant and we didn't get to relocate back near family although DD got her wish to go to just one secondary school, but she struggles with friendships, is insecure and we are possibly looking at a diagnosis for ASD.
If I could go back in time I'd choose not to relocate constantly. We now live somewhere I wouldn't have picked to live. Wish we'd just stayed put in the first place. I also feel ( and this sounds odd), that I've left little bits of myself all over the place, I never feel settled anywhere.
Have to confess I can't understand why you would choose this life for your kids, if you already have good prospects. Don't under estimate how lucky you are if you are happy, settled, financially OK and close to family where you currently live.