Military Fitness Training Equipment Market - Growth, Trends, and Forecast (2019 - 2024)
The market for Military Fitness Training Equipment is expected to grow with a CAGR of more than 2% during the forecast period.
Mobile Fitness Training Equipment Segment is Expected to Register the Highest CAGR
The mobile fitness training equipment segment is expected to grow with the highest CAGR during the forecast period due to various advantages it offers over fixed fitness equipment. Mobile fitness training equipment can be carried from place to place and can be installed wherever the military camps are present. The high revenue share is mainly due to an increase in demand for military training equipment for soldiers positioned in far away warzones, i.e., away from their native training zones. This is mainly due to the increasing global conflicts and the intervention of the militaries of some countries in other territorial conflicts. Training with portable outdoor fitness training equipment is trending in the military, as the focus has shifted on training in adverse environments, to make the soldier's body withstand harsh battle conditions, is increasing. This, in turn, is expected to help the growth of the segment in the years to come.
North America Region to Dominate the Market in the Years to Come
North America region holds the maximum market share currently in the Military Fitness Training Equipment Market globally, due to high demand from the US military. The US holds the largest market share in the North America Military Fitness Training Equipment Market. Deployment of US troops in various regions of the world, due to the US engaging in various global conflicts, is one of the major factors driving the increase in the market share of the North America region. There are compulsory fitness tests for US Army personnel. The US has an Army Physical Fitness program that has two factors, the weigh-in and the Army Physical Fitness Test (APFT). For Army personnel, APFT has to be taken twice a year and they need to meet the minimum criteria to be eligible for the promotions and transfers. The US is also planning to increase the number of military personnel and also to increase the fitness standards of the military by 2028. Factors like these are expected to increase the Military Fitness Training Equipment Market in North America during the forecast period.
Technogym, Life Fitness, TriActive USA, Rally Fitness, MoveStrong are some of the prominent players in the market. Several different players worldwide provide fitness training equipment for various militaries around the world. With fitness training being made compulsory in some countries, the players can focus on developing products based on the fitness preferences and drills of the militaries of those countries. Also, players can focus on the development of the mobile fitness training equipment, which is projected to grow with the highest CAGR in the years to come. Players can experiment with innovative mechanisms and better training techniques to attract new customers, thereby increasing their market presence and share.