In this study, laser shock peening (LSP) induced residual stress distributions on the aircraft fuselage used TC21 titanium alloy cylinder components were investigated. The effects of overlapping rate, laser energy, and impact times on the radial, circumferential and axial residual stress distributions were systematically studied. Results show that LSP has negligible influence on the distribution of radial stress, but significant influence on the distribution of circumferential and axial stress. Obvious stress concentration in the core of the cylinder components is observed, which is further eased by increasing the overlapping rate. The depth of residual stress layer induced by LSP in the cylinder components is not sensitive to laser energy or overlapping rate, which only exhibits a slight increase in the case of increasing the impact times. The optimized LSP parameters for TC21 titanium alloy cylinder components are of an overlapping rate of 50% and an impact times of two. The laser energy should be determined according to the actual service stress of the components.