On the eve of the Australian Grand Prix in Melbourne, Red Bull star Daniel Ricciardo has revealed he and his colleagues are still unsure how overtaking will be affected behind the wheel of the revamped vehicles that now boast fatter tyres, more down force and lower rear wings.

A lack of overtaking has long been an Achilles heel of Formula One, while non-competitiveness in the Constructors' Championship has plagued the sport in recent seasons.

And while Ricciardo was hopeful season 2017 would be a genuine three-horse race between his Red Bull, reigning champions Mercedes and the vastly improved Ferrari, the Perth native wasn't quite as optimistic about the potential for more overtaking.

"Everyone's, I would say, a little bit nervous about it," Ricciardo told Fairfax Media.

"There's actually a bit more drag on the car because of the aerodynamics. They may be even a little bit slower on the straight, to the human eye that won't be visible, but the cornering speeds will be visible and that's going to be where we make up all the time.

"Because the car in front is producing more, let's say, down force through the corner and because you're going faster the air is probably coming off the car, let's say, more aggressively, violently.

"The chance of that affecting the car behind is stronger, naturally, just because of the speed. It's probably natural that it will create a bit more disturbance for the car behind, we're hoping that it won't be too much.

"In the last years it's still been OK to follow another car. Sure, you do suffer a bit but we've still been able to overtake, there's been some great racing.

"We're hoping it's a small percentage and not a big one. We feel that there will be something but I think we'll still be able to overtake and I think things like DRS [drag reduction system] and that helps, and things like me enjoying a good late braking move will come into favour."

Three-time champion and Mercedes linchpin Lewis Hamilton this week claimed Ferrari were favourites to win the Constructors' championship, despite the Italian giants finishing a whopping 367 points adrift last season in third spot.

Ferrari duo Sebastian Vettel and Kimi Raikkonen are tipped to take giant strides this year after impressing in pre-season testing, but Vettel still believes Mercedes are the benchmark as they chase a fourth-straight title.

Ricciardo agrees with Hamilton that Ferrari will be the big movers this year suggesting they may have already gone past Red Bull, and was hopeful he and teammate Max Verstappen could keep up.

"Ferrari have come out swinging, at least in testing, so it looks like they're going to be there at least for the first part of the year," Ricciardo said.

"Mercedes were always going to be there and I think us, I think we'll be there this weekend but even if we're not on their level, I definitely believe in our development so we're going to be there at some point.

"We've learned that Ferrari's quick, Mercedes is going to be quick. They're the two top dogs at the moment. We're not far off but we've still got a lot of room to grow.

"I'd like to think it [the gap] is less than half a second, it's hard to say. I don't think we executed a perfect day of testing, I don't think we got to show even ourselves our true potential.

"I would be surprised if it's not a three-horse race."

Ricciardo and 19-year-old Verstappen are on the verge of their first full season as teammates at Red Bull. Verstappen began last year at Red Bull's other team Toro Rosso, but switched with Daniil Kvyat after four rounds and made an instant impact, becoming the youngest ever driver to win a Grand Prix when he saluted at Spain on debut for his new team.

The partnership looks Red Bull's most stable yet after the shaky relationship between Mark Webber and Vettel in years gone by.

"Everyone's kind of curious how it's going to play out, you've got this young driver who's expected to win world championships and then there's me who's also expected to win one," Ricciardo said.

"I don't think necessarily one of us will sink, one of us will swim. I think we're both going to swim and push each other to hopefully really high levels.

"It's cool, I like that, the attention and the pressure it puts on both of us. I kind of feel like we're both the calibre of drivers who thrive off that.

"I believe we are the best driver line-up on the grid. I believe that and I believe the team recognise that, so it's kind of like motivating and encouraging for everyone that's involved in it.

"It's just a good competition. As long as we keep respecting that, sure we'll race hard but I don't see fireworks."