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Skydive dictionary : Terminal Velocity

The equilibrium velocity that a freefalling body can attain against the resistance of the air. The greatest speed at which a human body falls through the atmosphere. Resistance of the air overcoming the pull of gravity establishes the approximate figure of 150 to 176 feet per second or 102- 120 mpg for the stable, face-to-earth position

Typical terminal velocity for formation skydiving is in the 120 to 135 mile per hour range, but speeds as high as 300 miles per hour have been reached.