Now, among algebraic geometers, at least, it is well known that there is an equivalence between locally free $\mathcal{O}_X$-modules of rank $n$ and vector bundles of rank $n$. So, equivalently, principal $\mathrm{GL}(n,\mathbb{C})$-bundles are given by locally free sheaves of rank $n$.
So…what about other groups? I guess that $\mathrm{SL}(n,\mathbb{C})$ bundles are then locally free sheaves of rank $n$ with top exterior power trivial, but can we phrase everything in terms of the properties of a sheaf and a group?
My guess is that in this context, if we can do it, we'll end up with something that's not quite locally free sheaves of rank n for $\mathrm{GL}(n,\mathbb{C})$, but which will be equivalent.
Note: I'm aware that we could just say something like "the sheaf of local sections of a $G$-bundle" but I'm looking for something intrinsic, a set of properties of the sheaf without reference to the geometric bundle, which can be reconstructed from the sheaf description.
Best Answer
$\newcommand{\O}{\mathcal{O}}$ $\newcommand{\F}{\mathcal{F}}$
The way you get a locally free sheaf of rank $n$ from a $GL(n)$-torsor $P$ is by twisting the trivial rank $n$ bundle $\O^n$ (which has a natural $GL(n)$-action) by the torsor. Explicitly, the locally free sheaf is $\F=\O^n\times^{GL(n)}P$, whose (scheme-theoretic) points are $(v,p)$, where $v$ is a point of the trivial bundle and $p$ is a point of $P$, subject to the relation $(v\cdot g,p)\sim (v,g\cdot p)$. Conversely, given a locally free sheaf $\F$ of rank $n$, the sheaf $Isom(\O^n,\F)$ is a $GL(n)$-torsor, and this procedure is inverse to the $P\mapsto \O^n\times^{GL(n)}P$ procedure above. (Note: I'm identifying spaces over the base $X$ with their sheaves of sections, both for regarding $Isom(\O^n,\F)$ as a torsor and for regarding $\O^n\times^{GL_n}P$ as a locally free sheaf.)
Similarly, if you have a group $G$ and a representation $V$, then you can associate to any $G$-torsor $P$ a locally free sheaf of rank $\dim(V)$, namely $V\times^G P$. But I don't know of a characterization of which locally free sheaves of rank $\dim(V)$ arise in this way.
Operations with the locally free sheaf (like taking top exterior power, or any other operation which is basically defined fiberwise and shown to glue) correspond to doing that operation with the representation $V$, so I think you're right that in the case of $SL(n)$ you get exactly those locally free sheaves whose top exterior power is trivial (since $SL(n)$ has no non-trivial $1$-dimensional representations).