Supercavitation

An object (black) encounters a liquid (blue) at high speed. The fluid pressure behind the object is lowered below the vapour pressure of the liquid, forming a bubble of vapour (a cavity) that encompasses the object and reduces drag.

Supercavitation is the use of a cavitation bubble to reduce skin friction drag on a submerged object and enable high speeds. Applications include torpedoes and propellers, but in theory, the technique could be extended to an entire underwater vessel.