Aiming at the problem of damage and invalidation of projectile-borne circuit module when launching small caliber smart bullet, focus on the analysis of the stress of the circuit module at the high overload environment. Designed a protection structure for projectile-borne circuit module, use HYPERMESH and ABAQUS to establish finite element model of the bullet and the rigid slippery barrel, calculated the stress distribution of the circuit module. Analyzed the stress response of the circuit module under different protective shell thickness and 4 kinds of potting materials: polyurethane, acrylic acid, silicone and epoxy resin. The results can provide a reference for the design of projectile-borne circuit module.