The successful CAP series of aerobatic aircraft dates back to the Piel CP-30 Emeraude of the early 1960s.

Claude Piel designed the two seat Emeraude in France in the early 1960s for kit builders, but more than 200 were built in four different factories across Europe. The Emeraude first flew in 1962 and was built in basic 50kW (65hp) Continental A65 power CP-30 form and 65kW (90hp) Continental C90 CP-301 Super Emeraude form.

One of the companies to build the Emeraude was CAARP, a company owned by Auguste Mudry. CAARP used the basic Emeraude design as the basis for the CAP-10, which was a similar aircraft other than its 135kW (180hp) Lycoming IO-360 engine and stressing for aerobatic flight. The prototype CAP-10 first flew in August 1968. CAARP built 30 CAP-10s for the French air force before Mudry started production for civil orders in 1972 at his other aviation company, Avions Mudry.

The CAP-10 remains in production today in 10B form with an enlarged tail. The CAP-20 meanwhile was a single seat development with a 150kW (200hp) AIO-360 engine.

The updated CAP-21 replaced the CAP-20 in 1981. The CAP-21 combined the fuselage of the CAP-20 with an all new wing and new undercarriage, and forms the basis for the similar CAP-231, CAP-231EX (with a carbon fibre wing) and latest CAP-232.