Elon Musk's SpaceX has acquired space parachute maker Pioneer Aerospace for $2.2 million, the media reported.
Musk's rocket making company has bought Pioneer Aerospace -- which makes parachutes for space vehicles as they return to Earth -- after its parent company filed for bankruptcy in Florida, the Information reported.
It's SpaceX's first publicly known acquisition since 2021, when the company acquired the small satellite company Swarm for $524 million.
Pioneer has been a key supplier of drogue parachutes for a number of SpaceX and NASA missions. This includes multiple crewed flights and cargo to the International Space Station (ISS); and the "Osiris Rex" mission.
![Musk's SpaceX Buys Parachute Company For $2.2 Mn: Report Musk's SpaceX Buys Parachute Company For $2.2 Mn: Report](https://data1.ibtimes.co.in/en/full/792535/musks-spacex-buys-parachute-company-2-2-mn-report.jpg?h=450&l=50&t=40)
Drogue chutes are extremely sophisticated components designed for high velocity; in the case of Dragon, the chute deploys after the capsule has reentered through much of the atmosphere, to stabilise the spacecraft and slow it down a little bit.
According to NASA, the two drogues deploy when the Dragon is at 18,000 feet in altitude, moving at around 350 miles per hour.
![International Space Station International Space Station](https://data1.ibtimes.co.in/en/full/771839/international-space-station.png?w=496&h=330&l=50&t=40)
(The main chutes are deployed later during reentry, at around 6,000 feet in altitude; SpaceX buys those from Airborne Systems.)
It comes as SpaceX prepares to use its Starship rocket system as a fully reusable transportation system to carry both crew and cargo to Earth orbit, help humanity return to the Moon, and travel to Mars and beyond.
(With inputs from IANS)