Plain English Meaning
The part of the wing's lift that pushes the aircraft straight up. When you bank into a turn, the wings tilt, so less of the lift is pushing up and more is pulling the aircraft sideways into the turn.
Full Definition
The portion of an aircraft's total lift that acts straight up, opposing weight. In level flight, all lift acts vertically. When the aircraft banks, the total lift tilts with the wings, so only part of it continues to act vertically — that part is the vertical component of lift, and it is what holds the aircraft up against gravity.
Context Anchor
Encountered when learning turns, bank angle, load factor, and why an airplane needs more lift to maintain altitude in a turn.
Derivation
‘Vertical’ comes from Latin verticalis, meaning ‘relating to the highest or straight up.’ ‘Component’ comes from Latin componere, ‘to put together’ — in , a component is one part of a that has been into directions. So the term simply names the straight-up part of the total lift force.