You can't talk about Fallout without talking about the Power Armour.
This stuff is essentially a one-man tank and even afford protection against the ever-irritating fall damage. They're arguably one of the most iconic features of the Fallout universe and you can see why, who wouldn't want a badass cross between Iron Man and a juggernaut?
The real question is, could you have one in, you know, *whispers* real life?
Yes and no.
Organisations such as DARPA are already working on powered exoskeletons for the armed forces. Whilst this won't allow you to stomp about the place with impunity like in Fallout, they would enable troops to carry immensely heavy loads and lift great weights. Granted, the reality is that sealing yourself into a suit and falling from a great height/taking some heavy fire is probably more likely to turn you into a can of Spam rather than a war machine, but technologically enhanced troops are on their way, make no mistake.