This invention describes an acoustic transducer assembly wherein an extremely high figure of merit (d.sub.h g.sub.h) is obtained as a result of converting incoming acoustic axial stress into radial extensional stress thereby multiplying its effect. The piezoelectric active element is encased in a metal sandwich enclosing two semilunar air spaces which allow the device to withstand extremely high hydrostatic pressure yet still respond to low level sound waves when acting as a hydrophone. The mechanical prestress induced by the differential coefficients of expansion between the metal case and the piezoelectric ceramic element also serves to prevent depolarization aging.