A new concept of ammunition without the use of explosive gunpowder has been recently studied, which achieves performance equal to or higher than that of high explosives. Frangible Armor Piercing (FAP) is one of the concepts, which utilizes a tungsten alloy penetrator specialized for fragmentation. To investigate the fracture behavior of the tungsten alloy penetrator, Taylor impact tests were conducted at various impact velocities. Additionally, finite element analysis was performed to predict the fracture behavior of the tungsten alloy. Compression tests were also carried out at six strain rates for dynamic material properties and the dynamic hardening behavior was successfully predicted with the Lim–Huh model. Finally, the Mohr–Coulomb fracture model based on the mean stress was adopted to predict impact failure in Taylor impact simulation. The analysis predicts the deformation and fracture behaviors of the tungsten alloy successfully