Firstly, based on the Reddy higher-order shear deformation theory and the pneumatic elastic piston theory, the nonlinear governing equations of motion for an axially moving cantilever beam were established by using the generalized Hamilton’s principle, and the first order nonlinear aerodynamic force and parametric excitation in-plane were obtained. After introducing dimensionless variables and parameters, the nonlinear governing equations became dimensionless equations. At last, according to Galerkin’s approach, the governing equations of motion were simplified to three ordinary differential nonlinear dynamic equations. As long as the suitable composite material and relevant parameters are given, the relevant vibration characters of the modeling during deployment and retrieval can be analyzed by using numerical method.