Phased Projectiles

"Phased Projectiles make Kinetic weapons more effective at bypassing shield defenses and dealing damage directly to armor."

General
Phased Projectiles boost Kinetic weapons by increasing their shield bypass, allowing them to ignore a certain percentage of enemy shield defense.

Advantages
Phased Projectiles guarantee damage against shielded opponents even if you ultimately lose and fail to completely deplete the enemy's shields. They are particularly useful against regenerating shields such as the Repulsor Shield because enemies will take a huge chunk of health damage even if they get to fully recharge their shields.

In some extreme cases, you can destroy enemy targets before their shields go down, saving you the hassle of draining their shields. This usually happens against heavily-damaged ships or those that have regenerating shields.

Disadvantages
Phased Projectiles are next to useless against lightly-shielded but heavily-armored targets such as modules. This also applies to Xeno Division Hulls and above.

Iridium Magnets are a much common choice as they can effectively multiply actual damage output by improving the weapon's accuracy.