Military Fitness Training Equipment Market expands with rising defense funding
Global military fitness training equipment market revenue was at USD xx.xx million in 2020 and will reach USD xx.xx million by 2025, with a CAGR of xx% between 2020 and 2025.
President Moon Jae-in has called on the South Korean military to strengthen its "full" defense capabilities to counter conventional and unconventional threats.
Market Drivers and Restraints:
The main driver of the global military fitness training equipment market is the growing awareness of defense authorities about the fitness of soldiers. Military personnel write specialized plans to execute their vision of the military, such as mandatory physical training sessions with custom equipment. Additionally, mission-oriented training sessions are held in specialized locations for the military, which is driving the need for sophisticated fitness equipment, helping the market boom.
Impact of Covid-19 on Military Fitness Training Equipment Market:
The global pandemic caused by the novel coronavirus comes a time when the economy was hoping for recovery. The military fitness equipment market has registered slow growth during the lockdown period, but it will return to normal conditions once all activities resume.
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Report is segmented as:
By Product Type:
• Mobile fitness equipment
• Fixed fitness equipment
The mobile fitness equipment segment is likely to witness the highest CAGR in the comimg years because of its advantages compared to its counterpart. Mobile fitness equipment can be transported from one location to another and can be installed anywhere there are military camps. The high revenue share is primarily due to increased demand for military training equipment for soldiers located in remote war zones, that is, far from their home.
Based on geography, the global military fitness training equipment market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, the North America region currently has the highest market share in the global market due to the high demand from the US military. The United States holds the substantial share of the military training equipment industry in North America. The deployment of US troops in various regions of the world, due to the participation of the United States in various global conflicts, is one of the main factors driving the increase in market share in the North American nations.
Key market players:
Key players of the market are:
• Life Fitness
• Triactive America
• Fitness Anywhere
• Greenfields Outdoor Fitness
• Core Health & Fitness
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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