Elon Musk, chief executive officer of Tesla Motors Inc. and Space Exploration Technologies Inc. known as SpaceX, speaks at a news conference at the National Press Club in Washington, D.C., U.S., on Tuesday, April 5, 2011. Photographer: Brendan Hoffman/Bloomberg 
No one was injured in the incident, according to the tweet.
SpaceX is the privately held rocket company of billionaire high-tech entrepreneur Elon Musk, who is also the chief executive officer of Tesla Inc.
"During a planned parachute drop test today, the test article suspended underneath the helicopter became unstable," according to a statement quoted by the CNBC reporter.
The Crew Dragon space taxi is being developed alongside rival Boeing Co's Starliner capsule, both of which have recently suffered cost overruns and schedule delays in the space program.
NASA and SpaceX are working to determine the testing plan going forward ahead of the Crew Dragon's second "demonstration mission", according to the statement.
SpaceX did not immediately respond to a Reuters request for comment. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Shounak Dasgupta)