In this article, an analytical equivalent circuit model is established for the piezoelectric micromachined ultrasonic transducer (PMUT) cell and array with a combination of the annular and circular diaphragms used for structural optimization and complex array design. Based on this model, a comprehensive analysis is conducted on the acoustic-structural coupling of an annular and circular diaphragm-coupled PMUT (AC-PMUT) with a new excitation method. The model-derived results are in good agreement with the simulation and experimental results. Then, an optimized design has been presented to achieve high-output pressure and a good array working performance. In summary, a comparison of the array working performance is conducted between the arrays that consist of AC-PMUTs and traditional circular diaphragm PMUTs (C-PMUTs). The results indicate that the AC-PMUT array has a much lower crosstalk effect than that of the traditional C-PMUT array. By this means, the AC-PMUT array can fully use the high vibration amplitude achieved by each AC-PMUT cell to improve its output ability. As a result, the highest ultrasonic output pressure generated by the AC-PMUT array in its resonant condition can achieve an increase of 155%, compared with that generated by the C-PMUT array.