<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>
<periodOfReport>2003-11-13</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000801907</issuerCik>
        <issuerName>BALLISTIC RECOVERY SYSTEMS INC</issuerName>
        <issuerTradingSymbol>BRSI</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000898449</rptOwnerCik>
            <rptOwnerName>BRANDT DARREL D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 AIRPORT ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SOUTH SAINT PAUL</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55075</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>1</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-02-25</value>
</transactionDate>
<transactionCoding><transactionFormType>5</transactionFormType>
<transactionCode>S</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness><value>L</value>
</transactionTimeliness>
<transactionAmounts><transactionShares><value>500</value>
<footnoteId id="F1"></footnoteId>
</transactionShares>
<transactionPricePerShare><value>1.10</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>806827</value>
<footnoteId id="F2"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable></derivativeTable>
<footnotes><footnote id="F1">All transactions with the exception of this 500 share sale were reported timely.  This one was beleived to be part of another reported transaction but was not.</footnote>
<footnote id="F2">Also owns 1,026,000 shars in the Reporting Person's IRA.  Also owns (1) an option ot purchase 11,250 shares at $.50 per share, (2) an option to purchase 15,000 shares at $1.25 per share, (3) an option to purchase 15,000 shares at $.96625 per share, (4) an option to purchase 15,000 shares at $1.38 per share, and (5) an option to purchase 15,000 shares at $1.05 per share, all of which are currently vested.</footnote>
</footnotes>
<ownerSignature><signatureName>Mark B. Thomas under Power of Attorney</signatureName>
<signatureDate>2003-11-13</signatureDate>
</ownerSignature>
</ownershipDocument>

