Composite materials are having good dynamic properties, specific strength, and specific stiffness. The analytical formulations for dynamic analysis of composite tube shafts are mainly equivalent modulus beam theory (EMBT) and layerwise beam theory (LBT). The EMBT is improved by including coupling effects in the formulation. In the present study, the natural frequencies are calculated using modified EMBT for hybrid composite tube shafts and results are in good match with numerical and experimental work. The of position of CNT inserted layer and amount of CNT added to CFRP, GFRP, and hybrid of CFRP and GFRP composite tube shafts are analyzed. © 2018, © 2018 Taylor & Francis Group, LLC.