Without a championship in 14 years and on one of the longest droughts of their illustrious history, Ferrari are aiming to capitalise on the the clean slate of F1's rules revolution to challenge for wins and titles again this season.

They will do so in a fierce-looking F1-75 car, which has a darker red and black livery - a nod to the Scuderia's oldest cars combining with the innovative design of these new F1 machines.

Carlos Sainz called the car "aggressive, radical and beautiful", while team-mate Charles Leclerc admitted: "Expectations are very, very high."

"I'd like the F1-75 to be up for the fight on track at every grand prix to go toe-to-toe with our rivals," added team boss Mattia Binotto.

• Michael Masi replaced as F1 race director

While Ferrari are the sport's most successful and iconic team, in recent years they have dropped from perennial title challengers to midfield runners. But optimism comes from the team having improved significantly last year - finishing third behind Mercedes and Red Bull standings - and the fact they have long-been concentrating on acing the new rules.

The regulations have been overhauled in a bid to improve wheel-to-wheel racing and Grand Prix excitement, and Ferrari - with more resources than most - will hope the reset plays into their hands.

Revealed at Maranello, the F1-75 takes its name from an important anniversary for the Prancing Horse, marking 75 years since founder Enzo Ferrari produced his first Ferrari car.

What are Ferrari's targets in 'innovative' new car?

Ferrari have described their new car as "daring and innovative" - and the car is a departure from the previous looks we have seen this season. While it comes with risks of failure, Ferrari hope thinking outside the box can pay off.

"It was at first for us important for us to be fully open minded in the way we approach the exercise," explained Binotto. "It was not a matter simply continuing the concept of the previous car and adapting them to the new rules.

"It has been aerodynamic-driven, and all the mechanical concepts have been a consequence of it. We tried all the directions and we picked the one we thought was the best for the final performance. I think there is a lot of non conventional choices. It is a big innovation for us in terms of the design."

Ferrari rebounded from their worst season in 40 years to finish third last year. Although the team acknowledge that is still below expectations.

"Expectations are high because we are Ferrari," said Leclerc. "We are a team that is expected to win all the time.

"What makes me confident about this year's car is the work that I've seen in the last few months. That's been absolutely incredible by the whole team. It's been a long time we've been working on this car now and I can see how well we've been working so that gives me the confidence for the future.

"But it's never easy to know until you are on track at the first qualifying year. But the feeling is good, everyone is extremely motivated and I'm also extremely motivated to be back in the car and to finally drive this beautiful car."

Sainz added: "Our target is to be back up there fighting for wins.

"Obviously we have very tough competitors in F1, Mercedes, Red Bull, McLaren, even Alpine and Aston Martin could be up there this year. The target of Ferrari is always to be back being competitive."

Binotto also knows just how important acing this rules refresh is for the Scuderia.

"If we do not win, is that a failure for Ferrari?" he stated. "I think it's important for Ferrari to be back to being competitive and we've said for a long time that 2022 is out best opportunity for that.

"We put a lot of effort as a team in designing the new car, and the way I've seen the team working, I'm proud. I'm not considering a failure at the moment, we're simply focused on trying to do our best."

Ferrari are completing a demo run in their new car at Fiorano on Friday, five days before the first pre-season test in Barcelona.