Thin walled and high rib components (TWHRC) are widely used for rocket cabins, aircraft wings, panels and frames in aerospace equipment as critical load bearing structures. This paper is aimed to develop a novel multi-DOF envelope forming machine (MEFM) with parallel kinematic mechanism (PKM) to realize efficient manufacturing of TWHRC with high performance. Since the heavy load MEFM with PKM has many total differences with the light load PKM, such as dynamic error and precision control, this paper conducts research on dynamic error prediction modelling and precision control method for this novel heavy load MEFM.Firstly, the configuration of MEFM is developed and the kinematic model of MEFM is established. Then, a RFC (rigid-flexible coupling) and RFE (rigid finite element) coupling dynamic model of MEFM is established considering time-variation of kinematic configuration caused by large deformation of all the kinematic elements. Based on the dynamic model, the dynamic deformation and error of MEFM are predicted and their generation mechanisms are revealed. It is found that the linear compression deformation of two-force links is the largest among all the kinematic elements, and it is the most sensitive to the heavy forming load and the most insensitive to the installation error of strain gauges, thus suiting for the feedback of large deformation of MEFM. Based on the above findings, a novel link strain feedback and dynamic error compensation control method is proposed. Finally, experiments under different control methods are conducted, showing that the motion precision of envelope tool and forming precision of formed components under the proposed control method are remarkably improved compared with that under the traditional control method (The geometric deviation of formed components under the proposed control method is remarkably reduced to −18 ∼ 32um from −64 ∼ 54um under the traditional control method). The experimental results verify that the proposed dynamic error prediction model and link strain feedback control method for heavy load MEFM are reasonable.