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An electronic component is any basic discrete device or physical entity in an electronic system used to affect electrons or their associated fields. Electronic components are mostly industrial products, available in a singular form and are not to be confused with electrical elements, which are conceptual abstractions representing idealized electronic components and elements.

Electronic components have a number of electrical terminals or leads. These leads connect to other electrical components, often over wire, to create an electronic circuit with a particular function.

Sub-assemblies are a series of parts that are combined to form a unique component. Sub-assemblies can be combined to make a larger assembly used on production lines or in service applications.

A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or replacement of failed units