A vacuum-packed assembly for the compact storage of compressible survival equipment is provided. The assembly includes a compressed article of survival equipment, such as a sleeping bag, life raft, or parachute within a flexible, evacuated, heat-sealed envelope of gas-impermeable material. An outer envelope of thicker, more durable material is preferably employed for protecting the inner envelope. The outer envelope is also evacuated. If a parachute is stored within the assembly, an actuation neck is provided for allowing the envelopes to be ruptured upon deployment of a drogue or pilot parachute. Both the drogue parachute and an aircrewman can be connected to the parachute externally of the vacuum envelopes without risking vacuum integrity.