(Playing catchup here, posting another item of interest from my big bag of stuff from the Farnborough airshow....)

The Italian aerospace contractor Aero Sekur SpA, best known for safety systems including parachutes and airbags, is developing a SPacecrew Emergency Module (SPEM). SPEM employs inflatable heat shield technology to provide an independent rescue system for orbiting astronauts.

The company is also developing an inflatable module (IMOD) for manned spaceflight applications. The habitat module provides a flexible and lightweight alternative to rigid aluminium space station modules. IMOD is scheduled to be available by the end of 2008. Produced for the European Space Agency, it is understood to be the first inflatable module of its kind developed by a European organisation. The multi-purpose module will be suitable for all space applications, i.e. manned/habitation/planetary plus commercial use and space tourism.

(Source: Aero Sekur press release)