drunknsubmrnr
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Are the weapons used by Canada greatly superior to those used by Germany, Italy, France, UK, etc?
Well....there are different strengths and weaknesses to every system. We mostly use very very old Mk 48 mod 4 fish with a handful of mod 7's.
If you didn't want any chance of an Otto fuel leak, you'd probably want the German DM2A4. They're electric and relatively quiet but pretty slow.
If you wanted screaming fast performance at shallow depths over a short range, but not so much at deep depths you'd want Spearfish. It has a gas turbine engine that provides significantly variable output at significantly different external pressure. Coincidently, RN submariners have been trained for close to a century now to make short-range attacks at shallow depths.
If you wanted really good performance at all depths and an Otto fuel leak doesn't faze you, go with modern Mk 48's. They're fast on the surface and still relatively fast at depth. As far as system capability goes, they're the Starship Enterprise of torpedoes.
The combat system is pretty much determined by the torpedo you use. ie don't pick an American combat system with British torpedoes, unless you really have too much money and need to spend it. And don't think you can get full capability out of a modern torpedo if you don't have a full capability combat system.
What would the cost comparison be (very approximately) for retrofitting a 4 sub fleet versus replacing Canada's stock of munitions?
The boats have little enough life left that there isn't any point in major upgrades now. The RAN spent over $1 billion to put a modern combat system into the Collins, and it would probably cost close to that to upgrade the torpedoes to mod 7's as well.
It's probably best to just buy new boats. Apparently the new German Type 216 is aimed at the RCN among others.