Instead of keeping it around for emergencies, it is now my main method of traversing the map - at least until the jetpack. It is a bit faster, but also it is much more fun than walking.
There are now observation towers all over my starting area, that I use as jumping off points when moving between production facilities.
Also found out that if I hit an angle just right, like a small boulder or something, it gives the parachute a boost up. Can make it possible to fly a bit on flat land.