Red Bull Racing team principal Christian Horner has said F1 is currently in the midst of a 'halcyon period' and he believes that next season will be just as good.

The battle for the drivers' title went right to the wire this year and while Horner's team did manage the double in the end, there was little to choose between the top three teams during the F1 2010 season.

Furthermore with Sebastian Vettel clinching the title, it will mean that there will be five world champions competing in 2011, the 23-year joining Jenson Button, Lewis Hamilton, Fernando Alonso and Michael Schumacher.

That is something the sport hasn't been able to boast since 1970, when Jack Brabham, John Surtees, Denny Hulme, Graham Hill and Jackie Stewart were all in action.

"It's a halcyon period for F1 with the quality of drivers and the strength and depth there is in the sport at the moment," Horner confirmed to ESPNF1.com, "and to have four drivers going to the last grand prix still in with a shout of winning the championship was phenomenal and I think that will continue into 2011."

Meanwhile, Horner was diplomatic when asked about the Scuderia's use of team orders at this year's German Grand Prix.

"It comes down to your philosophy of going racing. We chose to give both our drivers absolute equality and a fair chance at it and it's not to say one approach is wrong and the other is right it's just the way we decided to approach the championship," he added.

"Ultimately the guy that's done the best job over the course of the season has come out on top and I'm just delighted that it was a Red Bull driver and Sebastian Vettel. He's only 23 years of age, he's still young and he's still emerging.

"He's immensely fast, he's a very bright, intelligent young man and he's got a lot of years racing ahead of him."