Question: Some land-based fighter aircraft have a drogue-chute to help them slow down during landing.

* Do any current models of commercial aircraft have a similar
mechanism?
* Secondly, would such a mechanism help aircraft in making a better landing and reduce landing related incidents/ accidents?

Answer: 
It is called a [drogue parachute](https://en.wikipedia.org/wiki/Drogue_parachute) and I don't think that any of the present generation large commercial aircraft use them. 

That said, a number of older commercial aircraft have used them, a good example being the Sud Caravelle.

[![Caravelle drogue](https://i.stack.imgur.com/vQgzK.jpg)](https://i.stack.imgur.com/vQgzK.jpg)

Image from eu.airliners.net

There are some issues with using drogue chutes in a commercial airliner, which would limit their effectiveness.

* Most commercial airliners have thrust reversers already.
* For it to be effective, the parachute has to be quite huge. For example, the Handley Page Victor, which had MTOW in the range of A320, had a drogue chute 48' (or 14.6m) in diameter. The chute would occupy volume and increase weight.
* If drogue chutes are used, they have to be packed before every flight, which will increase turnaround times. Another option is to replace them at the end of every deployment, which would increase costs.
* Deployment failure/partial deployment/Uncommanded deployment will affect the safety of the flight.
* The need to use a drogue chute can limit the crosswind landing of the airliner significantly.
* Aircraft dragging a huge chute during taxiing back to the ramp is not a good idea from FoD point of view.
The full list of airliners and business jets is:

* Sud Aviation Caravelle
* Tupolev Tu-104
* Tupolev Tu-124
* Tupolev Tu-144
* Concorde prototypes
* Learjet 25
* Learjet 35
* Dassault Falcon 20

[![Concorde during brake tests](https://i.stack.imgur.com/57z9r.jpg)](https://i.stack.imgur.com/57z9r.jpg)

Concorde during brake tests (picture [source](http://thumbs.media.smithsonianmag.com/filer/concorde_d.jpg__600x0_q85_upscale.jpg))

Even some gliders used them (SHK, HKS, SB-5, Salto)

[![Hirth SHK with brake chute](https://i.stack.imgur.com/mok2J.jpg)](https://i.stack.imgur.com/mok2J.jpg)

Hirth SHK with brake chute (picture [source](http://cdn.c.photoshelter.com/img-get/I0000n7nq8gwb3N8/s/900/900/20100606-0007Hwei.jpg))

Brake chutes increase drag and allow a steeper approach, which helps to control the touchdown point with great precision. If the aircraft is too high, just push the stick forward - the drag of the chute prevents the aircraft from accelerating too much and the increased drag at higher speed gets rid of the excess height quickly.

On the ground the drag of the chute reduces the rollout distance which is especially helpful for aircraft with a high touchdown speed.