Recently, ducted fan unmanned aerial vehicles (UAVs) have attracted considerable attention due to their potential for application in both civil and military missions. Compared with free propellers, the presence of duct can in principle decrease the flow contraction after propeller, and gives the potential to fly efficiently with high security, compact structure, and low noise. In the present study, a ducted fan UAV is designed using the open source code OpenProp. The computational fluid dynamics (CFD) simulation model using sliding mesh technique is established and validated as a reliable tool for highly vortical flows by propeller thrust experiment. The effect of the duct, revolution speed, and distance between propellers on the aerodynamic characteristics of the ducted fan UAV is evaluated in detail. Results show that the unducted coaxial upper and lower propellers generate 3.8%, 4.3% more thrust than the unducted single propellers, respectively, and the unducted upper and lower propellers generate 55.9%, 34.9% more thrust than ducted propellers, respectively. The ducted fan UAV generates 5.7% more thrust and consumes 39.1% less power than the unducted coaxial propellers. The thrust of the ducted fan UAV increases first and then follows with a decreased tendency as the distance between propellers increases.