We describe a partial order reduction technique for a real-time component model. Components are described as timed automata with data ports, which can be composed in static structures of unidirectional control and data flow. Compositions can be encapsulated as components and used in other compositions to form hierarchical models. The proposed partial order reduction technique uses a local time semantics for timed automata, in which time may progress independently in parallel automata which are resynchronized when needed. To increase the number of independent transitions and to reduce the problem of re-synchronizing parallel automata we propose, and show how, to use information derived from the composition structure of an analyzed model. Based on these ideas, we present a reachability analysis algorithm that uses an ample set construction to select which symbolic transitions to explore. The algorithm has been implemented as a prototype extension of the real-time model-checker UPPAAL. We report from experiments with the tool that indicate that the technique can achieve substantial reduction in the time and memory needed to analyze a real-time system described in the studied component model