""If it ain't broke, don't fix it," is the old maxim, and the Hail Chaingun holds true to this time-honored principle. A simple caseless round is loaded into one of the two gatling breaches, and liquid propellant is injected behind the shell. The Hail has a cyclic rate of 3000 RPM, and has enough ammo on board for an extended firefight."
The Hail Chaingun is a weapon that uses Chaingun Ammunition as ammunition. It is cheap, light, effective against armor and has ample ammunition storage. Its most lethal implementation is the mighty Storm Chaingun, which combines four Hail Chainguns on a turret with automated fire-control hardware as a point defence system.
"Simple caseless rounds have been around for longer than most historians can remember, and the production of them is so old-tech as to be almost a backyard occurrence throughout most of Known Space. The Aurorans in particular produce enormous amounts of it in order to fuel their almost constant war efforts (whether it be against the Federation or amongst themselves)."
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This weapon is commonly available from Auroran and Rebellion outfitters. It is the only ammunition-fed primary weapon and as such can be a liability in long fire-fights. Try to re-stock as often as possible, particularly when using multiple Hail Chainguns, and/or the Storm Chaingun.
The weapon is best used to grill small fighters. Taking only a couple of these is not recommended against large vessels, nor is using it for asteroid mining, as the money spent on ammunition will dent your profits.
Due to its rate of fire, the Hail Chaingun not only has the highest damage per ton ratio in the game, but it also puts out a respectable amount of damage per second, even with the 1 = X Bug partially affecting it. Enough that it outclasses heavier weapons such as Fusion Pulse Cannons and Medium Blasters. Using a plug to fix the bug makes the damage just silly.
Unless you really don't have the space for fusion pulse cannons, don't use Hail Chainguns. Fusion Pulse Cannons don't require ammunition, have a longer range, and do more damage.