I recently encountered a very similar situation. An installer CD for an another application that I had created (ie, non NI distribution media) and no longer have, was required. The builder needed this media for "NI System Components". The MS Windows Add/Remove Programs window had no entry for "NI System Components". I uninstalled and reinstalled all NI software, but that did not fix the problem.
Uninstalling/reinstalling or repairing NI software apparently does not fix entries in the HKEY_LOCAL_MACHINE\SOFTWARE\National Instruments\Common\Installer\Distribution registry section.
The solution is to examine (or search) the entries in this registry section (they are listed by GUID with what appears to be version number(s) appended)) and locate the each entry with a distribution media for those that you do not have. Once again, try to build the application installer. The build will fail, but you will now see a list of software components that can be found in the MS Windows Add/Remove Programs window. Uninstall and reinstall these NI software components. Now your application build should succeed.