Unfortunately, you won't have the option to customize each plane, as we initially thought usually, you'll have to play challenges that you unlock as you complete missions to acquire new machines. What's more, you have shields that govern the amount of damage you can take which are replenished by each opponent you kill.
Each plane comes with unlimited ammunition, so you can literally fire away to your heart's content, pausing to reload now and then. For instance, one of the bombers is equipped with four massive air 'shotguns'. Others, particularly the slower bombers, may simply come packing a large amount of firepower to blow enemies up.
Some aircraft, particularly the smaller, more agile jets have machine guns, missiles, and potentially a special weapon that fires special homing missiles or smart bombs that you can detonate. You'll have access to more than twenty separate planes, each with their own specialized weapons load out.