Yeah. They cost about $3-3500 in terms of real money, using PLEX as the metric I assume.
A PLEX License is an item you can buy from CCP for £15 (the cost of a months subscription) and redeem in-game. You can use the license to give you a months subscription or sell it for in-game currency. It's a smart idea they've implemented to tackle illegal gold selling. If you're short on in-game money you can get some without having to buy it from farmers on eBay, and the flipside is, if you have enough money in-game, you can fund your subscription without having to pay real money.
Titans also require about 3 years of skill training to effectively pilot.