-- There are no horizontal forces on the projectile, so there's nothing acting on it to change its horizontal speed.
ax ... the x-component of its acceleration is zero.
vx ... the x-component of its velocity, is constant.
-- The only vertical force on the projectile is the force of gravity.
ay ... the y-component of its acceleration is constant ... 9.8 m/s²
vy ... the y-component of its velocity DECREASES at the rate of 9.8 m/s/second