A Titan is currently the largest ship in the game. It requires billions of ISK in materials to build, and can only be constructed in 0.0 Security at a POS Capital Construction Array. A Titan requires the combined efforts of hundreds of people to reasonably build. It also requires considerable amounts of dedicated Skill training time just to be able to pilot it, and much more to competently do so.
Titans possess many of the same functions as Carriers or Motherships. They have Corporate Hangers, Ship Maintenance Arrays, and Jump Drives. They also have the ability to fit Clone Vat Bays just like Motherships, and have a reduction bonus for fitting Warfare Link modules. The Titan is completely immune to all forms of EW, but can still have its Warp Drive and Jump Drive disabled by all types of Bubbles.
The Titan is also capable of equipping a Doomsday Device, which is capable of Insta-poping almost any ship at the push of a button. Pre-Dominion the Doomsday Device was a AoE weapon capable of wiping out fleets of ships in an instant. This was the main selling point of the Titan. History has shown that a well timed and executed "Titan drop" could be devastating to an enemy fleet... in spite of the Nerfs that both the Titan and Doomsday have received.
Titans are the only other vessel aside from the Dreadnought to be able to equip XL sized weaponry. However, this is not deemed a worth-while capability. The Siege Module of the Dreadnought is the main factor in its high DPS, not the XL weapons used with it. The amount of DPS that a fully XL equipped Titan can produce is usually not much higher than that of a single Battleship once the Titan's Drone compliment is taken into account. Worse, the XL guns are not really suitable for fighting anything other than Capital Ships, which can bring far more DPS to bear. With the Dominion expansion Titans were given a damage buff in addition to a general rebalancing of XL weapons.
Rather than weapons, Titans are generally seen carrying Smartbombs (of the Officer type) in their free high-slots in order to destroy Interdictor Bubbles launched at them, in order to enable escape. This isn't a foolproof strategy, but offers the best chance of escape after a Doomsday attack.
Titan pilots are usually outfitted with the best Implants money can buy. The modules used are of the Officer or Deadspace variety, while Rigs equipped are Tech II. Since the Titan is so expensive to begin with, these normally insane expenses don't add much cost to the Titan. Yet, they will drastically improve its survivability.
Titans used to be rare, but there exists more than 250 of them all together, not counting ones destroyed. The number continues to grow, and it is not uncommon for Alliances to field multiple Titans in order to overcome many of its drawbacks.
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