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You ship's sensors have five main stats:
Maximum velocity does exactly what it says, it is the maximum speed at which your ship can travel after accelerating to full speed. Mass on its own does nothing, it's just a fictional number that states how much your ship weighs; If you pair Mass with the Inertia Modifier you can, with fancy math, determine the Align Time of your ship and Ship Warp Speed.
Heading, or direction, is more of a state of your ship rather than navigational statistic. The most important idea to understand from Heading is, when your ship is at full stop (Velocity is 0 m/s) your ship has NO direction.
This wouldn't be Eve if we couldn't change all the stats of our ship and our opponent's, and we have quite a few options
There are many modules that change the speed of your ship