Red Bull driver Daniel Ricciardo has revealed that he does not expect to be challenging for the Formula One title this season.

The 27-year-old Australian, who finished behind champion Nico Rosberg and runner-up Lewis Hamilton last year, believes Mercedes still hold the edge with Ferrari not too far behind.

Ricciardo's prediction on the eve of his home race - Sunday's season-opening Australian Grand Prix round Melbourne's Albert Park - will come as a bitter blow to those who hoped the sweeping changes to Formula One's technical rulebook over the winter would bring an end to Mercedes' dominance.

The 2017 Formula 1 grid Show all 20 1 /20 The 2017 Formula 1 grid The 2017 Formula 1 grid Sebastian Vettel, Ferrari Vettel finished fourth last season and will hope improvements to the team's 1.6-litre V6 will help him back onto the podium. Getty The 2017 Formula 1 grid Kimi Raikkonen, Ferrari The experienced Finn largely underperformed last season. At 37, could be his final season racing for a top team. Getty The 2017 Formula 1 grid Sergio Perez, Force India Perez retains the drive he has held since 2014. Force India again use the Mercedes-AMG engine. Getty The 2017 Formula 1 grid Esteban Ocon, Force India The talented 20-year-old raced in 9 Grand Prix for Manor last season and earns a call-up to a much more competitive team. Getty The 2017 Formula 1 grid Romain Grosjean, Haas Haas had a very good season last year, finishing 8th with their Ferrari engine. Grosjean will look to improve on his 13th place finish. AFP/Getty The 2017 Formula 1 grid Kevin Magnussen, Haas The Dane moves from Renault to Haas. Struggled last season. Getty The 2017 Formula 1 grid Stoffel Vandoorne, McLaren The talented Belgian, who scored a world championship point in the unfamiliar MP4-31 last year, replaces Jenson Button at McLaren. Getty The 2017 Formula 1 grid Fernando Alonso, McLaren The youngest double champion of all-time remains at McLaren for the 2017 season, despite a well publicised approach from Mercedes. Getty The 2017 Formula 1 grid Lewis Hamilton, Mercedes The team - and driver - to beat since the infamous V6 rule changes came into place in 2014. Getty The 2017 Formula 1 grid Valtteri Bottas, Mercedes Bottas replaces world champion Nico Rosberg at Mercedes, Will push Hamilton all the way this campaign. Getty The 2017 Formula 1 grid Daniel Ricciardo, Red Bull Adrian Newey has completely redesigned the RB13 for the 2017 season and Ricciardo will be hopeful of bettering last year's 3rd place finish. Getty The 2017 Formula 1 grid Max Verstappen, Red Bull There will be plenty of attention on Verstappen as he completes his first full season at Red Bull. Getty The 2017 Formula 1 grid Nico Hulkenberg, Renault Hulkenberg moves to the team from Force India, replacing Kevin Magnussen. Getty The 2017 Formula 1 grid Jolyon Palmer, Renault The Brit came under pressure last year for a disappointing 18th-place finish. Will be hopeful of improvement. Getty The 2017 Formula 1 grid Marcus Ericsson, Sauber Sauber were poor last season and were plagued by retirements. Ericsson nevertheless remains with the team for a third campaign. AFP/Getty The 2017 Formula 1 grid Pascal Wehrlein, Sauber The 22-year-old wins a drive at Sauber, moving from Manor Racing. Getty The 2017 Formula 1 grid Daniil Kvyat, Toro Rosso Resigned to Toro Rosso after plenty of speculation; will be desperate to show he shouldn't have been replaced by Verstappen at Red Bull. Getty The 2017 Formula 1 grid Carlos Sainz Jr, Toro Rosso Now in his third season with the team. Toro Rosso this year return to a Renault engine. Getty The 2017 Formula 1 grid Lance Stroll, Williams 18-year-old rookie. Stroll's first appearance in the car didn't inspire confidence, he spun the car in testing. Getty The 2017 Formula 1 grid Felipe Massa, Williams Heroically returns to the team after Bottas departed for Mercedes. One of the most experienced drivers on the grid. Getty

Indeed former champions Red Bull, spearheaded by the technical mastermind of British designer Adrian Newey, had been tipped to lead the challenge to Hamilton's all-conquering Mercedes team this year.

But Ricciardo believes Red Bull, which won four consecutive titles between 2010 and 2013, will start the season half-a-second a lap adrift of their rivals.

"Hopefully we are going to go well but it is hard to know, " said Ricciardo, who returned to the winners' circle last season following his triumph at the Malaysian Grand Prix. "Testing is never really a clear picture, but I expect Ferrari and Mercedes to be quick.

"Last year I did not win the title and I was still very happy. I got my first pole position, and I got back on the top step of the podium. If I perform at my best I will be happy this year and I will be very happy with the world title.

"It is my target and aim to be world champion, and I will do what I can to make it happen this year, but I am not expecting it."

Ricciardo forms one half of possibly the best driver line-up on the grid with Dutch teenager Max Verstappen occupying the other Red Bull seat.

In stark contrast to Hamilton's bitter rivalry with Rosberg at Mercedes over the past three years, the Red Bull duo appear to revel in each other's company.

"We obviously try and keep it as amicable and professional as possible," Ricciardo, who joked that the pair may soon start sharing a bedroom at grand prix weekends, explains.

"We both want to win and beat each other and there is no denying that. But at the same time we have got a team that is trying to build fast cars and they rely on us, not only to push the car but give feedback and push the technology of the car, too.

Ricciardo believes Red Bull will start the season half-a-second a lap adrift of their rivals (Getty)

"Two heads are better than one and we understand that we are only helping ourselves if we help each other because then the car is going to be faster and give us a better chance to win."