Shares of the Dearborn, Mich. company were up 3% to $11.19 in trading Wednesday.
Ford said the new F-150's running gear has been completely redesigned.
Maximum payload has been increased by 200 pounds to 1,400 pounds, while maximum towing also was increased 200 pounds to 8,200 pounds of conventional towing.
For the first time, Ford said, Raptor is available with either 35-inch or 37-inch tires - the largest factory-fitted to a production light-duty full-size pickup.
The new Raptor also debuts new 12-inch driver cockpit and center-control screens.
“Raptor is the original desert truck,” Ali Jammoul, Ford Performance vehicle program director, said in a statement. “We just took it to another level."
Ford said that over the last four years the previous-generation Raptor cumulatively outsold Porsche’s entire lineup of sports cars and also outsold Chevrolet’s Corvette.
The high truck market is about to see a boost in competition, Bloomberg noted, from such vehicles as V8-powered Ram 1500 TRX from Fiat Chrysler, now a unit of Stellantis, as well as a trio of highly anticipated electric pickups: the Tesla (TSLA) - Get Report Cybertruck, GMC Hummer and Rivian R1
Separately, Ford posted solid January sales figures on Wednesday led by improving demand for electric vehicles and trucks. The company reports fourth-quarter earnings on Thursday.
Ford said electric vehicle sales in January rose 18.5% from last year , thanks to better take-up of the F-150 and Explorer hybrids.
In August, Bloomberg reported that Ford would temporarily close a factory in Michigan to put in machinery for the redesigned F-150 pickup.
The 2021 F-150 Raptor will be assembled at Ford’s Dearborn Truck Plant and available in showrooms this summer.