To analyze the induced electric field characteristics generated by the rotation and shaking of underwater metal vehicles, a mathematical model of the induced electric field generated by the underwater metal vehicles was derived using Faraday’s electromagnetic induction law. A mathematical model of the induced electric field on the electrode pairs of metal vehicles shaking in different coordinate system planes was established through in-depth analysis. Based on this, a three-component output model of the induced electric field output by the three-axis sensor was obtained when the measurement system was shaking at all three angles. At a constant speed, the induced electric field interference output by the measurement system is a static signal. The value of the static electric field is proportional to the vehicle’s speed and the value of the geomagnetic field, and the value of each component is related to the direction of movement and the value of the geomagnetic field component. The simulation results show that when the navigation body is moving at a constant speed, the induced electric field is a static electric field with a magnitude of mV/m. In a stable state, the induced electric field noise generated by changes in pitch, roll, and heading sway is at the nV/m level and does not have a significant impact on detection. The correctness of the theoretical model has been verified through experiments on offshore speedboat platforms, and it is feasible to use metal navigation bodies for ship electric field detection.