Question

If something is traveling at 20 m/s constant velocity, is it in equilibrium? If a projectile is launched at a velocity of 20 m/s, is it in equilibrium?

Answer 1

If something is traveling at 20 m/s constant speed AND its direction isn't changing, then its velocity is constant.  Another way to say that is: Its acceleration is zero.  Zero acceleration means zero NET force acting on the object, or a group of BALANCED forces acting on it, also called EQUILIBRIUM.  The required answer is: YES.

If a real projectile is launched, the force of gravity acts on it vertically downward.  There's no upward force acting on it to balance gravity.  Therefore, the forces on the projectile are NOT balanced, there IS a net vertical force on it, and it's NOT in equilibrium.  Too bad.