Thompson style tips are the most economical and common type of tips available. The tips are a stamped metal with zinc coating.
Typical applications cement and gypsum fireproofing, stucco, repair mortars.
Their biggest advantages are low cost, and blockage protection. The blockage protection comes from the fact that the tip is held in with a rubber cap that allows excess pressure to blow the tip out of the gun rather than create a pack in the gun. This can be very advantageous in applications where the coating has foreign material or clumps in it.
The biggest disadvantage to these tips is that they do not atomize thin materials that have a sticky consistency as well as some other guns do.