PT boats really aren’t much good for a blue-water navy. They’re best when they can hide in islands and fjords. Torpedoes were generally replaced by anti-ship missiles, which have far greater range.
In the 1950s, the Soviets deveoped the *Komar*-class missile boats to take on the same role. Several others were developed: The German *Gepard*-class patrol boats, the US *Pegasus*-class hydrofoil, etc.
Countries with suitable coastlines and defense requirements still have “Fast Attack Craft”. Norway, Iran, North Korea.
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