Transverse vibration and stability were analyzed by using the transfer matrix method for a smart beam subject to the axial force. By combining the equ ivalent Young’s modulus of mechanical analysis for composite materials, the sma rt beam with two piezoelectric components distributed symmetrically?on the surfa ce was equivalent to a homogenous stepped beam. Based on transfer matrix method of vibration analysis on the BernoulliEuler beam, the dynamic characteristics a nd stability of the smart beam bearing axial force was investigated, and the com putational results were compared with those of finite element method by using AN SYS. The results show that the effect of the size and location of the piezoelect ric patches and the axial force have significant effects on the vibration charac teristic and stability of the structure. The research will help to build a smart beam with multiple piezoelectric components in actively controlling vibration o f the flight structure with a high speed.