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The Morane-Saulnier M.S.732 was the designation given to the final prototypes of the aircraft that entered production as the M.S.733 Alcyon (Kingfisher) basic trainer.
The first prototype of the design was built as the M.S.730. This was a low-wing single-engined monoplane with a fixed undercarriage, powered by a Mathis 8G.30 inverted V-8 engine. This first prototype made its maiden flight on 11 August 1949. It was then re-engined with a war surplus Argus As 10 engine, given the new designation M.S.731 and made its second maiden flight in November 1949.
Next came two examples of the M.S.732. These were powered by a Potez 6D.30 inverted inline engine, and had the fixed undercarriage replaced with one with retractable main wheels. These two aircraft were completed early in 1951 and underwent flight tests.
The aircraft then entered production as the M.S.733. Five pre-production aircraft were built during 1951 and these were followed by 200 production aircraft.