Ducati has unveiled its much-anticipated 2015 MotoGP machine, the first to be fully designed by Ducati Corse general manager Gigi Dall'Igna.

Riders Andrea Dovizioso and new team-mate Andrea Iannone presented the bike during a launch ceremony at the Ducati Auditorium in Borgo Panigale, Italy.

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Andrea Dovizioso with 2015 Ducati

Dall'Igna joined the struggling factory just over a year ago, introducing several upgrades to the GP14 while simultaneously gathering data for the 'all-new' GP15.

In his quest to get the GP15 right and finally solve the long-stranding understeer problems, the former Aprilia Racing boss waited until the last possible moment before signing-off on the final design.

While their rivals were on track with 2015 bikes during the opening Sepang test earlier this month, Dovizioso and Iannone used a third version (GP14.3) of last year's Ducati.

That interim bike finished in the top four on each of the three days, with Iannone third (+0.521s) and Dovizioso seventh (+1.007) on combined lap times. If the GP15 can provide a further step forward it would appear a very competitive package, although Dovizioso said it is pointless to speculate until it has been on track.

The GP15 will make its debut at next week's return visit to Malaysia, after which there will be only one more official test prior to the Qatar season-opener on March 29.

The new bike appears more compact, continuing a trend started by Dall'Igna with the GP14.2 and includes changes to the engine packaging. The bike retains Ducati's traditional 90-degree V cylinder layout and Desmodromic valve system, while the exhaust system and bodywork is visibly different.

Although Ducati is a Factory manufacturer like Honda and Yamaha, one of Dall'Igna's first acts as boss was to try and negotiate a move to the Open category, to avoid the engine development freeze.

Ultimately the rules were re-written to keep Ducati as Factory, but whilst enjoying all of the Open class fuel, engine, tyre and testing benefits until a certain number of top three results are achieved. Suzuki and Aprilia, returning to MotoGP this season, will compete under the same rules.

World champions with Stoner in 2007, Ducati hasn't won a race since the Australian left for Honda at the end of 2010. Valentino Rossi's winless two years prompted a series of management changes and the low point, in terms of results, came when Ducati failed to claim a podium in 2013.

Dovizioso and former team-mate Cal Crutchlow took three podiums last season, finishing fifth and 13th in the final standings. Young Italian Iannone, riding factory machinery at the Pramac team, was tenth overall with six top-six finishes.

If Ducati achieves its goal of a race win - in the dry - this year it will lose half of its four-litre race fuel advantage. If Ducati claims three dry wins their riders will also lose the softer rear tyre. All other concessions will remain until start of single ECU era in 2016.

2015 Ducati
Andrea Iannone with 2015 Ducati

For comparison, the 2014 Ducati can be seen below: