The effect of electromagnetic force on the dynamic response of magnetostrictive/piezoelectric laminate cylindrical shells is addressed using a semianalytical finite element method. The electric field is represented using electric scalar potential and the magnetic field by magnetic vector potentials. The electric field acting on the charged particles of a moving conductor is derived from the Lorentz force. The mechanical force generated by the interaction of the derived current density with the magnetic field is accounted for in the successive load steps using an iterative solution technique. The Terfenol-D/PZT configuration of the laminate is analyzed for the first circumferential harmonics of the shell structure with a clamped-free boundary condition. The effect of electromagnetic force on the dynamic response is marginal at normal operating conditions but numerical studies suggest that the magnetoelectric effect is significantly influenced by a small increase in magnetic potential at increased velocities of the shell. © 2011 by Mathematical Sciences Publishers.