The sport has seen all cars move from having V8 engines to new V6 turbo versions, which has raised concerns that the racing will not be as quick as in previous years.
Pre-season testing in Jerez appeared to back up those concerns, with slower times than 2013, but Allison is not worried.
He expects engine performance and reliability, combined with new aerodynamic work, to produce more downforce, enabling drivers to go faster once the action begins in Melbourne on March 16.
"Just look at the size of the rear wings – they are more or less Canada-type rear wings," he is quoted as saying to Autosport.
"That is roughly where the downforce of the (2014) car is. There is also not the blowing of the floor either.
"But new rules offer new opportunities, so the rate of finding downforce is quite steep.
"You never know when it's going to slacken off, but it is showing no signs of that at the moment."
The second round of testing begins in Bahrain next week, with the final round at the end of February before the Australian Grand Prix.