In this paper, we present a detailed dynamic and aerodynamic model of a quadrotor that can be used for path planning and control design of high performance, complex and aggressive manoeuvres without the need for iterative learning techniques. The accepted nonlinear dynamic quadrotor model is based on a thrust and torque model with constant thrust and torque coefficients derived from static thrust tests. Such a model is no longer valid when the vehicle undertakes dynamic manoeuvres that involve significant displacement velocities. We address this by proposing an implicit thrust model that incorporates the induced momentum effects associated with changing airflow through the rotor. The proposed model uses power as input to the system. To complete the model, we propose a hybrid dynamic model to account for the switching between different vortex ring states of the rotor.