From dimensional considerations, and assuming that the power $P$ applied to a propeller of diameter $D$ moving at an axial speed $V$ is 100% converted to the acceleration of a mass of air with density $rho$, I have arrived to the following expression for the thrust $F$:
$F=k(P·rho·V)^{1/2}·D$
where $k$ is a non-dimensional constant.
Is that expression basically correct? I'm now editing to include below the derivation, a bit long...
We have a propeller with a diameter $D$, absorbing a power $P$ when moving at an axial velocity $V$ in air of density $\rho$. Let’s assume that there exists a function f such that the thrust $F$ of the propeller is:
$F = f(P,D,V,\rho)$
The variables are thrust $F$, dimensions $MLT^{–2}$; Power $P$, dimensions $ML^2T^{–3}$; prop diameter $D$, dimensions $L$ and air density $\rho$, dimensions $ML^{–3}$
Five variables are too much. The system can’t be solved unless we have four, one dependent and tree independent… So, in place of $V$ and $D$, we take the volume $W$ swept by the spinning propeller in the unit of time, dimensions $L^{3}T^{–1}$
$W = π/4 · D^{2} · V$
There is an non-dimensional constant $k$ such that:
$k = F^a\cdot P^b\cdot \rho^c \cdot W^d$ where $a,b,c,d$ are numbers to be determined.
Switching to the dimensions:
$M^0 L^0 T^0 = (MLT^{–2})^a (ML^2T^{–3})^b (ML^{–3})^c (L^3 T^{–1})^d$
Then, the system is:
$0 = a + b + c\\ 0 = a + 2b –3c + 3d \\ 0 = –2a –3b –d$
$F$ is the dependent variable, so we make a=1
Solving the system:
$b = –1/2 \\ d = –1/2 \\ c = –1/2$
Inserting in $k = F^a\cdot P^b\cdot \rho^c \cdot W^d$ where $a,b,c,d$ the values of the exponents, and solving for $F$,
$F = k\cdot P^{1/2}\cdot \rho^{1/2} \cdot W^{1/2}$
But $W = π/4 · D^{2} · V$
Now $k$ may absorb the constant π/4, and we get:
$F = k\cdot P^{1/2}\cdot \rho^{1/2} \cdot V^{1/2}\cdot D$