The supercavitating vehicle is an underwater vehicle that is surrounded almost completely by a supercavity to reduce hydrodynamic drag substantially. Since the cruise speed of the vehicle is much higher than that of conventional submarines, the drag force is huge and a buckling may occur. The buckling phenomenon is analyzed in this study through static and dynamic approaches. Critical buckling load and pressure as well as buckling mode shapes are calculated using static buckling analysis and a stability map is obtained from dynamic buckling analysis. When the finite element method (FEM) is used for the buckling analysis, the solver requires a linear static solver and an eigenvalue solver. In this study, these two solvers are integrated and a consolidated buckling analysis module is constructed. Furthermore, Particle Swarm Optimization (PSO) algorithm is combined in the buckling analysis module to perform a design optimization computation of a simplified supercavitating vehicle. The simplified configuration includes cylindrical shell structure with three stiffeners. The target for the design optimization process is to minimize total weight while maintaining the given structure buckling-free.