Smart Parachute is a drone parachute system developed by AWESOME Tech Inc. to minimize damage from drone crashes. It features automatic return to the launch location, warning alarms and lights during descent, and transmission of crash position. The system is reusable and has low battery consumption. AWESOME Tech sees an opportunity in the growing consumer drone market, with over 1 million drones sold annually. Their market research found that 30-50% of drones crash and customers spend $100-1500 on repairs. 72% of customers surveyed said they would buy a smart parachute. AWESOME Tech plans to manufacture core parts and outsource other production, selling through drone manufacturers and dealers.