And while he is confident they will be ready to compete, he has raised concerns regarding the new simulator, admitting that significant work must be put in to improving it if they wish to keep up with their rivals.
"We have to put a lot of work into it because, first, it's an important development tool and, second, it's supposed to support us in our tuning work.
"In the worst case, that could be a two-year task."
Newey optimistic on Aston Martin future
The 66-year-old, however, did reserve special praise for the work being done by his colleagues behind the scenes, adding: "The factory is the best in the world, and the same is probably true of the new wind tunnel.
"But a wind tunnel is like an engine test bench. It all depends on the ideas of the people who feed it."
While Newey's attention is on the future, Aston Martin's driver pairing of Fernando Alonso and Lance Stroll are trying to get their respective 2025 campaigns up and running.
Alonso heads into this weekend's Spanish GP as one of four drivers without a point to his name after eight rounds, while his team-mate has collected just 14.
But although both have cut frustrated figures throughout this season, their struggles have come as no surprise, particularly to Alonso, who has repeatedly played down expectations.