I would match up the components with your modules/artifacts/jars, so each issue can be owned by a particular module (though it might have dependencies/relationships with others as well).
If you can make a strong case to have finer grained issue management than the module level, consider why you wouldn't also separate the associated module.
Having this 1-1 mapping helps clarify your release schedule, you can easily what issues version X of your project has, and which modules to focus the effort upon. It also helps simplify associations between Jira, the build system, and the SCM, e.g. if you're using Bamboo you'll likely have a build project per module, so you can simply add the association.