In the current work, an analysis for the initial aerodynamic assessment of a small sized quadcopter drone propeller is presented, focusing on the drone aerodynamic characteristics optimization. The objective of the work is to design and construct from scratch a quadcopter drone, in order to participate to the UAS Challenge 2020 student competition (www.imeche.org/events/challenges/uas-challenge). The study of the quadcopter design and construction is carried out by the Democritus Aeronautical Rescue Team (DART), a team that consists of students of the Democritus University of Thrace School of Engineering. The performance analysis which is presented is mainly based on the aerodynamic characterization of an initial selected propeller design, which will be used for the examined quadcopter, with the use of Computational Fluid Dynamics (CFD). Three turbulence models were selected for the computations each one based on a different modelling approach. The computations are assessed and conclusions regarding the propeller design are derived. Based on the computations, the optimal propeller shape will be designed, and the results will further help to the refinement of the overall quadcopter aerodynamic layout in the final detailed design stages for the UAS Challenge competition.