What I find stunning is that Apple is about to launch the iPad 2 and we are still waiting for the first credible Android-based tablet, aside from the Samsung Galaxy Tab. Note that the first iPad launched almost a year ago in April of 2010.

Apple’s time-to-market in tablets has generated at least five key advantages for the company:

1. Apple has locked up the market for critical components, including 60% of the global supply of 10” touch capacitive screens.

2. The company is much further along the learning curve in tablets, with refined hardware and software as well as more efficient production through its partnership with Foxconn.

3. Apple has achieved significant economies of scale to drive down per unit costs, having already shipped and sold 15m+ iPads.

4. The company has developed a sizable collection of complements in the form of apps and content (via iTunes) and physical accessories.

5. Apple has generated strong brand awareness around the iPad, given the limited competition for consumer mind share in this market.

These aforementioned advantages build upon Apple’s already significant, corporate advantages in the areas of technology, distribution (e.g., retail stores), customer service, and overall brand recognition.

Credible Android-based tablets will arrive soon. For instance, the Motorola Xoom is due to hit stores this Thursday. However, it may take some time (measured in years) for competitors to catch up to Apple in this market.