Talonite Armor provides even more health than Zynthium, allowing your ships to easily withstand lots of damage. They also give less XP, limiting your fleet level so that you don't have to face stronger enemies.
Talonite Armor has significantly less repair time per unit of health, meaning that the same damage taken will cost you fewer repairs.
Talonite Armor is rather mass inefficient, costing you lots of mass should you plan to toughen up your ships. However, T6 ships have no problem fitting them as they have excellent mass capacity.
Talonite Armor is the first ship armor to break the standard 1:1 repair to health ratio.