According to Forecast International’s “The Market for Submarines” analysis, the torpedoing and sinking of the South Korean corvette Cheonan in March 2010 by a North Korean coastal submarine will prompt a surge of interest in small, low-cost submarines.
The corvette was specifically designed for operations in littoral waters and built with full knowledge of the threat spectrum she would face. Yet, she was blown in half by a torpedo she never saw coming. The force multiplier effect was clearly evident here.
“The Cheonan was designed to provide an economical asset for patrolling coastal waters, but the submarine used to sink her cost an order of magnitude less – and that submarine got away with her attack cold,” said warships analyst Stuart Slade, author of the report. “It is quite clear which was the most cost-effective asset in this particular scenario.”

