The technology you are referring to is known as super-cavitation. Basically, if an object travels within an encapsulated bubble of air, in water, it overcomes a lot of the inherent water resistance and thus allows it to achieve capabilities that would normally not be possible under the fluid dynamic conditions of water. In this case a torpedo is 'blanketed' with many small air bubbles, reducing drag, and allowing it to go at speeds far beyond what is 'normal.'
The Soviets (and thereafter the Russians) started this branch. They came up with a torpedo system called the Shkval (Squall), where the weapon could go in a straight line at speeds 5-6 times faster than the fastest we had. However the initial weapon had a fatal flaw ....it could only travel in a straight line. Hence, it was at best a weapon fired after a US sub had fired at the Ruskie sub. Hence, that would probably force the US sub to stop guidance, and hence save the Ruskie sub.
They were originally meant to be fitted with a nuclear warhead, hence going in a straight line was never the main issue ....speed was.I do know that the USN is also working on some super-cavitation weapons ....most of them directed towards 'shooting' underwater mines and incoming torpedos, and to some extent coming up with super-fast torpedoes of our own (although our doctrine is more toward stealth and quietness than torpedoes that think they are rockets).
Hope that answers your questions.
"Hope that answers your questions."
Yes, thank you.
The article specifically spoke of the Chinese working to get this technology (on stratfore.com maybe?). It lit me up because I had always thought that if I were the Chicoms I would want to obviate the carrier groups that allow the US to project power the way we do.
I've been wondering ever since what the story was on the development. No mention was made about the torpedoes limitations as you have described. It sounded like one terrifying piece of ordinance.