I did some searching and only found reference to a TNT and ammunition factories located in Torgau proper, as you referenced. The TNT factory apparently replaced an earlier factory located elsewhere which suffered a massive explosion (pre-war).
As for aircraft manufacturing, it appears that the Torgau camps fed labor into factories in surrounding cities/towns. Perhaps there might have been sub-component manufacturing in Torgau - there isn't much mention of manufacturing in the town besides explosive-related stuff. Of note - nothing in the immediate area made it on the 8th Air Force target list - only leaflet drops (assuming escape info or messaging to prisoners) were made. The presence of numerous POWs in the town may have also caused the USAAF to avoid bombing otherwise good targets in the town for fear of causing friendly casualties.
Some close-by aviation-related factories include the Messerschmitt factory at Landsberg, Junkers bomber factories at Dessau, the Erla Flugzeugwerke factory in Leipzig / Heiterblick, and the Mitteldeutsche Motorenwerke in Leipzig / Taucha, as well as the Arado factory at Wittenberg. A bit further away on the Czech border was also the Focke-Wulf factory at Marienberg.
As a side ntoe, Torgau is also the location where the "official" staged photographs of the US Army and Red Army link-up were taken. The actual first contacts had occurred the previous day about 30 miles away.
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akg-images.co.uk