Single-seater racing

A modern Formula One car: Michael Schumacher's Ferrari at the 2005 United States Grand Prix.Single-seater (open-wheel) racing is one of the most popular forms of motorsport, with cars designed specifically for high-speed racing. The wheels are not covered, and the cars often have aerofoil wings front and rear to produce downforce and enhance adhesion to the track. In Europe and Asia, open wheeled racing is commonly referred to as "Formula", with appropriate hierarchical suffixes. In North America, the "Formula" terminology is not followed (with the exception of F1). The sport is usually arranged to follow an "international" format (such as F1), a "regional" format (such as the Formula 3 Euro Series), or a "domestic", or county-specific format (such as the German Formula 3 championship, or the British Formula Ford).


The best-known variety of single-seater racing, Formula One, involves an annual World Championship for drivers and constructors of around 18 races a year featuring major international car and engine manufacturers, and independent constructors, such as Ferrari, McLaren, Williams, BMW Sauber, Toyota, Honda, Renault, Red Bull Racing - in an ongoing battle of technology and driver skill and talent. The sport is one of the top five watched sporting events in the world, alongside the FIFA World Cup, the Olympic Games, the Super Bowl and the UEFA European Football Championship. Formula One is, by any measure, the most expensive sport in the world, with some teams spending in excess of $400 million per year. Formula One is widely considered to be the pinnacle of motorsports, with the F1 Drivers' Championship being one of, and the oldest among, only three World Championships awarded each year by the FIA (the others being the World Touring Car Championship and the World Rally Championship). What separates Formula 1 from all other forms of open wheel racing, is the basic premise of F1 revolves around the very important issue that each team is a "constructor". That is, the chassis of the car must be designed and manufactured in-house, and chassis can not be supplied to competitors on a "customer" basis. Engines are usually funded and/or developed by established major motor manufacturers, and can be supplied exclusively to just one team, or may be offered as "customer" engines, often to the smaller, lower-ranked teams.