The story
BRS was founded in 1980 and introduced its first parachute model two years later in 1982, with focus on the ultralight aircraft market. The company recorded its first successful aircraft and crew recovery in 1983: Jay Tipton of Colorado.
In 1998, BRS collaborated with Duluth, Minnesota-based Cirrus Design (now called Cirrus Aircraft) to develop the first recovery parachute system to be used on a line of type certified aircraft: the Cirrus SR20, followed by the Cirrus SR22 in 2001. The companies named the design the Cirrus Airframe Parachute System (CAPS), and, as of April 2023, made it standard equipment on all 9,000+ Cirrus SR aircraft. In 2002, BRS received a supplemental type certificate to install their parachute system in the Cessna 172, followed by the Cessna 182 in 2004 and the Symphony SA-160 in 2006.
In response to the economic recession of 2008 and associated falling orders, the company announced in November 2008 that it would lay-off 25% of its workforce for an indefinite time period.
From Wikipedia’s article on Ballistic Recovery Systems, shared under CC BY-SA 4.0.4