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In Tarkin, the titular character takes out one of the V-wing fighters, and the book says that
Things could have been worse, however. The Goliath could have been carrying a squadron of the new - and seemingly disposable - TIE fighters.
Together with their apparent vulnerability in Episodes 4-6, is there an explanation why the Empire would rely so heavily on fighters that were so vulnerable compared to craft already long in service?
The Star Wars: Incredible Cross-Sections factbook offers a host of reasons why the Empire favours TIE fighters. They're instantly recognisable, visibly imposing, impossibly fast, ultra-low maintenance, incredibly maneuverable and above all things, cheap cheap cheap to build.
Since the Empire evidently views their pilots as largely expendable, kitting them out with shields and heavy armour is a total waste of resources when they can sling them out of the ship (by the hundreds) in what amounts to little more than an engine with guns.
Hurtling through space, TIE fighters are the most visible image of the Empire's wide-reaching power. The TIE fighter engine is the most precisely manufactured propulsion system in the galaxy. Solar ionization collects light energy and channels it through a reactor to fire emissions from a high-pressure radioactive gas. The engine has no moving parts, making it low-maintenance. To reduce the mass of the ship. TIE fighters are built without defensive shields, hyperdrive capability, and life support systems - so the pilots must wear spacesuits. The light-weight ship gains speed and maneuverability at the price of fragility and dependence on nearby Imperial bases or larger craft for support.
There's also the fact that the ships fit in nicely with the Empire's martial philosophy of dehumanisation and sameness
TIE pilots may never use the same ship twice, and develop no sentimental attachment to their craft as Rebels often do. TIE pilots know that every reconditioned fighter is identical to a factory-fresh ship: one is the same as many thousands - another reinforcement of Imperial philosophy of absolute conformity.
On top of that, their lack of hyperdrive and life-support would presumably deter any thoughts of defection to the Rebellion.
As to why the Empire would field such a craft knowing of its obvious weaknesses, this is addressed in the Star Wars Databank article on TIE Fighters.
A TIE cockpit was cramped, and the fighter’s lack of defenses made flying one a dangerous calling. But TIE pilots took a perverse pride in the flaws of their craft. They saw the ability to fly a TIE effectively as the sign of true ability for a pilot, and TIE aces were held in great esteem by pilots who dreamed of amassing similarly impressive service records.
The TIE fighters are more vulnerable but also faster and more maneuverable than other fighters. They are cheaper to manufacture and since the empire doesn't care about the lives of it's pilots they can be fielded and lost in large numbers if necessary. This concept can be seen in the real world as well with light vs heavy tanks, light tanks are cheaper and faster to produce as well as more maneuverable but heavy tanks are much tougher to destroy.
