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While the limitations of the Royal Sovereigns well know (too slow, somewhat lacking in range) their main armament and protection would have made them awkward opponents for the majority of potential adversary capital ships, as seen in their deterrent role when acting as convoy escorts in WW2.The Tiger would needed a complete rebuild/ modernisation to bring its armour to even close to almost being adequate (the latter 3 completed British battlecruisers ended up with substantially more but probably still inadequate armour worked into them during their building and/or update.) Without that enhancement (and probably new engines to maintain speed) the Tiger very likely to be seen as a dangerous liability and to struggle to even forefilll a limited anti-pocket-battleship or heavy cruiser role (dangerously vulnerable to a Scharnhorst or anything more powerful).Back to the actual topic One of the main impacts of their being no inter war treaties would be that the 8-inch gun heavy cruiser would be a far rarer beast (in the Royal Navy and all the major navies) as more resources eaten up by capital ship building plans (including their escorts). The RN may have also found itself being able to afford even fewer of the long-range trade-protection type 6-inch cruiser it always preferred anyway.So perhaps a less balanced fleet with great dependence on heavier units.
While the limitations of the Royal Sovereigns well know (too slow, somewhat lacking in range) their main armament and protection would have made them awkward opponents for the majority of potential adversary capital ships, as seen in their deterrent role when acting as convoy escorts in WW2.
The Tiger would needed a complete rebuild/ modernisation to bring its armour to even close to almost being adequate (the latter 3 completed British battlecruisers ended up with substantially more but probably still inadequate armour worked into them during their building and/or update.) Without that enhancement (and probably new engines to maintain speed) the Tiger very likely to be seen as a dangerous liability and to struggle to even forefilll a limited anti-pocket-battleship or heavy cruiser role (dangerously vulnerable to a Scharnhorst or anything more powerful).
Back to the actual topic
One of the main impacts of their being no inter war treaties would be that the 8-inch gun heavy cruiser would be a far rarer beast (in the Royal Navy and all the major navies) as more resources eaten up by capital ship building plans (including their escorts). The RN may have also found itself being able to afford even fewer of the long-range trade-protection type 6-inch cruiser it always preferred anyway.
So perhaps a less balanced fleet with great dependence on heavier units.