Dr Helmut Marko says he is "very optimistic" about Red Bull's title chances for 2019.
After years of complaining about its customer Renault power, the top F1 team is moving to works Honda engines for next year and beyond.
And together with the aerodynamic rule change, Marko says he is confident.
"We already have the numbers from the new wings and it makes us very optimistic," he told Auto Motor und Sport.
Honda struggled when it collaborated with McLaren in 2015-2017, but this year the Japanese manufacturer has made progress with the junior Red Bull team Toro Rosso.
Marko said: "We expect that Honda will be only 10 kilowatts behind Ferrari and Mercedes. We think we can compensate for this with a good chassis."
Max Verstappen won in Mexico last weekend, as he did in 2017. Marko suggests that is because the circuit equalises the performances of the engines.
"No one ever wants to believe it when we keep saying it," Marko insisted.
"In Brazil it will be difficult for us again because of the long uphill straights. But let's see what we can do in Abu Dhabi.
"Our car currently seems to be very fast."
