SpaceX acquires Pioneer Aerospace, a company that provided components for Dragon spacecraft parachutes, out of bankruptcy for $2.2 million.
SpaceX Acquires Pioneer Aerospace
In a rare acquisition, SpaceX has purchased out of bankruptcy a company that provided components for Dragon spacecraft parachutes. Pioneer Aerospace, a company with decades of experience in developing parachutes for space and other applications, was acquired by SpaceX for $2.2 million. This move is seen as an effort to preserve SpaceX’s supply chain and address the challenges faced in developing parachutes for their spacecraft.
Challenges in Parachute Development
SpaceX and Boeing both faced challenges in developing parachutes for their spacecraft, with incidents such as “lagging” parachutes that opened later than expected. This acquisition of Pioneer Aerospace by SpaceX is likely aimed at addressing these challenges and ensuring a reliable supply chain for their parachutes.