Falls are the first leading cause of unintentional injury deaths in the eldly. About one third of elderlies larger than 65 years old happens to fall each year, which causes huge harm to the human body especially the hip joint. Using inflatable air bag to reduce damage is the most effective means for falling protection at present. In this paper, some key technologies such as overall composition, positioning accuracy, inflatable mechanism and parameters of the capsule were studied and implemented in the wearable fall protective airbag. The system is composed of power module, main control module, sensing module, positioning module, communication module, inflatable mechanism, compressed gas cylinder and capsule structure. It supports two positioning methods of GPS and WIFI, where the indoor positioning accuracy is about 60 m and the outdoor is only about 7 m. Additionally, the optimized structure parameters of an inflatable mechanism and a bionic shock absorber based on the structure of the human hip were designed. The reliability test of sprinting was carried out on 8 g, 12 g and 16 g, and the average time of filling gas is 386.9 ms with high speed dynamic recorder. A 3D geometric model of human hip was accomplished by importing the 2D computed tomography images of the hip, and a finite element model of the airbag was completed with the finite element analysis software ANSYS. The models of sideway fall were established in the case of absence in falls protective side and presence in hip protection cushion airbag protection. Comparison shows that the hip-protected’s good performance is achieved, with decreasing the peak impact force of the hip by 70% and the absorption of energy by 83.8%.