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The present work deals with an analytical study of the statical and dynamical behavior of transverse magnetic domain walls in hybrid bilayer piezoelectric/magnetostrictive heterostructures under the combined influence of spin‐polarized electric currents, transverse, and axial applied magnetic fields. The magnetostrictive material is considered to be isotropic and linearly elastic. We perform the investigation within the framework of the one‐dimensional Landau–Lifshitz–Gilbert equation. By employing the regular perturbation asymptotic expansion approach, we derive the explicit analytical expression of the most significant dynamic features, namely, traveling wave profile, DW velocity, and displacement under the influence of small and moderate transverse magnetic fields. Finally, we illustrate numerically the analytical results and delineate the domain wall motion for metallic and semiconductor ferromagnets. [ABSTRACT FROM AUTHOR]