Ordered one of these Fallschirmjager belts (More out of interest) from A & O, usual superb service from them... I don't think modern German Para units have or had a unit particular belt, everyone as well as far as I know being issued the standard Bundeswehr belt. The belt is very nice quality and solidly constructed, and it made or marketed by Mil-Spec. The embossed badge on the buckle is definitely derived from WW2 Fallschirmjager badging, minus the swastika.
Really good for jeans or whatever. Thanks again A & O.