You need both. A combination of body weight and other equipment is the most efficient way to increase your strength and reach a top fitness level of shape. There are hundreds of body weight exercises out there that will help you be more functional and efficient, just as there are plenty of equipment that will help you improves even better. I don’t know if I am going to use large equipment only, but many smaller ones (kettlebells, sandbags, etc.) can have a tremendous impact on your strength as well. A well planned combination of all these exercises and equipment would be the ideal way to increase your strength and eventually your overall conditioning, depending also on what your goals are.