Parachute may be a noun or a verb.
As a noun it means "a cloth canopy that fills with air and allows a person or heavy object attached to it to descend slowly when dropped from an aircraft, or that is released from the rear of an aircraft on landing to act as a brake."
Example: You need a parachute to jump our of an airplane.
As a verb it means "drop or cause to drop from an aircraft by parachute"
Example: He will parachute from an airplane for the first time tomorrow.
They plan to parachute when they drop the supplies.
or "appoint or be appointed in an emergency or from outside the existing hierarchy."
They will chose someone to parachute into the position quickly.
The Parachute Regiment, or Paras, is the British Army airborne unit and is attached to the Special Forces Support Group, or SFSG. It was first formed in 1941 during World War II as the 11th Special Air Services Battalion, later changed to the 1st Parachute Brigade.
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Red Bull Stratos have the highest safety rating of parachutes. One feature deploys the main chute and cuts away drogue at the same time.
Parachutes increase the wind resistance experienced by a falling object, thereby slowing the speed of decent.
There is more surface area for the air particles to hit making the weight to air resistance ratio unbalanced.
The aircraft it's self does not have parachutes, though a pilot might bring a parachute with him although likely it would be of no use as jumping out of a Cessna 180 would likely cause severe injury or death from impact with the horizontal stabilizer.