SpaceX Acquires Parachute Maker Pioneer Aerospace for $2.2 Million

Elon Musk’s SpaceX is parachuting in to rescue one of its vendors from bankruptcy.

The rocket company is acquiring Pioneer Aerospace—which makes parachutes for space vehicles as they return to Earth—for $2.2 million, according to a Florida bankruptcy filing by the parent company of Pioneer. The acquisition, which was approved by a judge on November 22, hasn’t been previously reported.

It’s SpaceX’s first publicly known acquisition since 2021, when the company acquired the small satellite company Swarm, whose founders and technology are now central to SpaceX’s planned direct-to-cell product. SpaceX paid $524 million for Swarm in a mostly stock deal, The Wall Street Journal reported.