The All Blacks have managed to win the World Cup just once, with David Kirk leading the side to the title on home soil in the inaugural tournament in 1987.
And despite having consistently been tipped for success, New Zealand have underachieved in the tournament - with them losing in the final one and the semi-finals three times, while in 2007 they suffered a shocked quarter-final defeat to France.
The pressure on the All Blacks to deliver in their own backyard will be greater than ever - but Lomu, who scored a record 15 tries in the tournament, insists the class of 2011 can deliver.
Lomu said: "I've got the feeling this is our time. This team has proven it can cope with pressure-cooker situations.
"On our home turf we should have the talent and the mental strength to pull it off.
"I can't wait for that first game to kick off and this country to light up in a way it never has before."
Dan Carter and captain Richie McCaw grab all the headlines for the All Blacks - but it is the partnership in the midfield that Lomu believes could be the difference.
"Ma'a Nonu is on fire at the moment and his combination with (Conrad) Smith in the centres can be devastating," said Lomu.
"Everyone talks about the importance of Dan Carter and Richie McCaw but that centre pairing can score a lot of points for the All Blacks."
New Zealand face Tonga in the opening game of the World Cup at Eden Park in Auckland on Friday September 9.
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