The current paper is aimed to investigate the effects of waviness, random orientation, and agglomeration factor of nanoreinforcements on wave propagation in fluid-conveying multi-walled carbon nanotubes (MWCNTs)-reinforced nanocomposite cylindrical shell based on first-order shear deformable theory (FSDT). The effective mechanical properties of the nanocomposite cylindrical shell are estimated employing a combination of a novel form of Halpin-Tsai homogenization model and rule of mixture. Utilized fluid flow obeys Newtonian fluid law and it is axially symmetric and laminar flow and it is considered to be fully developed. The effect of flow velocity is explored by implementing Navier-Stokes equation. The kinetic relations of nanocomposite shell are calculated via FSDT. Moreover, the governing equations are derived using the Hamiltonian approach. Afterward, a method which solves problems analytically is applied to solve the obtained governing equations. Effects of a wide range of variants such as volume fraction of MWCNTs, radius to thickness ratio, flow velocity, waviness factor, random orientation factor, and agglomeration factor on the phase velocity and wave frequency of a fluid conveying MWCNTs-reinforced nanocomposite cylindrical shell were comparatively illustrated and the results were discussed in detail.