sonic boom, shock wave produced by an object moving through the air at supersonic speed, i.e., faster than the speed of sound. Since sound is a mechanical disturbance that propagates through the air, there is a limit to its speed. An object such as an airplane, moving through the air, generates sound. When the speed of the object reaches or exceeds the speed of sound, the object catches up with its own noise; at higher speeds, it forces the sound ahead of itself faster than the noise would ordinarily travel. The piled-up sound takes the form of a violent shock wave called a sonic boom propagating behind the object. Sonic booms occasionally have mechanically destructive effects in addition to their role as noise pollutants.
I am sure its the effect when the Air craft goes Super S i guess gj or Ausie D could explain it better i am sure when the craft is about to break through the first pahse it has air build up infront of it, thats why concord has nose streightner and a solid front shield. that picture shows either the aircraft has passed the velocity mach one or has just passed it. my information is limited on this effect it could just simply be one of the F-14 burning up after a hit.lol
third edit,-- i dont think thats any sonic boom the water in the picture is unaffected and it seam like the the f14 is venting some sort of white gass and its probably trying to show the air waves around it i think it would be hihgly unlikely that any one would be able to get a picture of a F-14 at mach spead at this altitude. :cop