This is not bad. But imo, it feels like some interesting textures stenciled onto a 3d model. The logo placements are good! (except for the Spood Racing), and I would consider removing, or increasing the spread on the drop shadow for the "RAUH-WELT" on the side.
This is a design that is ideally suited to the unique abilities of a program like Mudbox, but it's not being used to maximum effect. I would try and add some more dynamic motion to the patterns and use the paint brushes on the model to reduce the texture stretching on the cowling.