Defense Transformation for the 21st Century Act of 2003

Defense Transformation for the 21st Century Act of 2003 - Authorizes the Secretary of Defense to establish and periodically adjust a human resources management system for some or all organizational or functional units of the Department of Defense (DOD). Authorizes the Secretary to: (1) offer to DOD employees early retirement, separation incentive pay, or both; (2) carry out a program to attract highly qualified experts in needed occupations; (3) appoint older Americans to positions in the excepted service lasting up to two years; and (4) provide special pay and benefits for certain DOD employees outside the United States.

Directs the Secretary to establish policies and procedures for the effective management of persons serving in DOD acquisition, technology, and logistics positions. Authorizes the Secretary to establish: (1) a DOD acquisition corps; (2) a Defense Acquisition University; and (3) programs to promote employment stability of DOD civilian employees affected by changing mission requirements.

Establishes auxiliaries within the military departments for coordinating volunteers.

Provides, with respect to certain military personnel positions, for: (1) equivalency pay; (2) revised service periods; (3) extension of certain officer age limits; and (4) elimination of certain mandatory retirement requirements and retired pay limits.

Provides additional service requirements for members of the reserves and Selected Reserve.

Repeals requirements for major defense acquisition programs. Authorizes the Secretary to waive domestic source or content requirements in certain cases. Revises Buy American requirements.

Directs the Secretary to annually establish DOD-wide goals for procurement contracts awarded to certain small businesses.

Outlines a military readiness and range preservation and restoration initiative.

Authorizes the Secretary to undertake certain DOD reorganizations.

Repeals: (1) the ballistic missile defense system; and (2) various DOD reporting requirements.

Authorizes the overhaul and repair of ships on extended deployments.

Authorizes the Secretary to provide military assistance or support to foreign nations assisting U.S. military operations or other activities to combat global terrorism.